Unfortunately, at the birth of FEG, many uniformed and inexperienced investors sold stock at the pre-IPO price, which was well below the IPO price. Although this large group of friends and family only represented a small percentage of the total market cap, they represent a large percentage of daily activity due to the lack of institutional shareholders. When times are good, this approach can be acceptable, but when the chips are down, these types of shareholders can become indiscriminate sellers, producing the outcome we see today, especially in the absence of other liquidity. The FEG board needs to be more strategic in the future, especially when issuing equity. I sense a lack of urgency in the things that matter the most.
FEG Price at posting:
11.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)