Today's drop is certainly not a good feeling. It reminds me a bit of what happened towards the end of October 2020:
Price topped out at $2.27 and I was getting ever so excited on the way up and tipped in more at $2.20 only to see it then retrace 39% and bottom out at $1.38 only 4 days later. It's a sickening feeling to be honest.
Today's drop looks a little bit similar and we've closed at a 20% retracement from the top at $4.27:
Is there more pain? Maybe. Has anything fundamentally changed? No. It's just that we had that massive rise over the 2 days on 15th and 18th Jan, so generally when that happens on no news, it's bound to come back.
I'm not really happy about the lack of news, given that there was supposed to be an announcement about Fab transfer in December. We can all forgive a bit of a delay, but here we are nearly a month on and no updates, so I do start to feel a little uncomfortable. I guess that's just natural. But the longer this goes on, the more antsy people will be getting.
I certainly still have faith in this company, and despite my forever hopeful expectations, things never go up in a straight line, so ups and downs are to be expected. For those people who bought in around the top of $4-$4.20 odd, just take the long term view. My $2.20 purchase made me feel like crap a few days later but I'm not worried about it now...
My purchase close to the top at $2.20 is no big deal when you wind the clock forward and look at where we are sitting today. So those who have bought recently, if we wind the clock forward another few months, you will no doubt be feeling the same when price hits $10 and you are over 100% in profit. Don't worry about short term swings when fundamentally nothing has changed.
As hard as it is, sometimes it's probably better never to look at the price if you plan on holding for some time. I can't follow my own advice though, as I like to live on the edge, and this is one hell of a roller coaster ride. One day, up $50k, next day down $100k. Who needs a theme park?
(20min delay)