Not the only stock this happens with but FFS it's not a Melbourne Cup sweep. DYOR and look at the fundamentals of anything. Is there a demand short, medium to long term and what Is the potential to supply. Costs associated at various trigger points. What are they? This stock has gone mental, many holders sitting pretty and have done so, over time, I would suggest.
The same applies now, but unfortunately, the combination of lockdown, pathetic interest rates and SMSF has somewhat led to this situation. Access to super also compounds this, with some wanting to make a quick buck. Nothing wrong with that but whats the strategy here, 1 week, 6 weeks, 6 months, 6 years? Taking profits and also limiting losses.
I have read many posts which I have liked. These are generally informative, objective and appeal to common sense.
When you are dealing with huge sums of money on a local basis, in a global climate of ridiculous political uncertainty, why would one act impulsively? I hope, many who bought recently, can sit and formulate a plan, for term of hold and announcements and activities to watch for.
Anyway, sitting at the pub because I can, with a piece of paper and pen, forward thinking and removing self from all the rhetoric around this and other stocks, which all have had meteoric rises and then been smashed. Rinse and repeat.
it's why industry funds are conservative.
if you are down you will go up and if you are up, you will go down. Where are you in that cycle and do you have the fortitude to hang in longer and sit with the tension red creates?
Loooong way to go....
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