No. I don’t accept that at all that the majority of selling today is attributed to “nervous nellies” only having bought in because it was meant to be a get-rich-quick investment.
Investors jumped in believing the company’s resource/s would be valued at multiples the current market cap but again, the company has not been able to clearly and definitively prove that. In fact, it seems the opposite, hence, the ongoing selling.
Look at the chart and the downtrend this stock has been incurring the last 2 months. I think people in the know were dumping, anticipating this for many weeks now.
ESS Price at posting:
31.5¢ Sentiment: None Disclosure: Held
