It is only common sense that if 63m shares are dumped, the stock price is going to be suppressed for a considerable period and this pullback may be nothing more than that. Heck, for a stock that was only trading a few hundred thousand shares a day until recently, it is a big statement that 63m shares could even be offloaded so quickly, irrespective of the price. It is overwhelmingly plausible that this decline is nothing more than the dumping of 63m shares.
It is also common sense that IF the GM contract is renewed and diversified growth opportunities are found, a stock like this is worth a lot more than 5x earnings. With significant growth potential, a PE of 30x or 10c a share is not ridiculous.
The trick is to make sure that if the GM contract is not renewed and the stock does go toward 0…. that it hurts... but isn't catastrophic for oneself and if that event doesn't occur... well, who cares if it goes to 1.5c before 10c etc… it’s just random noise.
What a gift this could be for long term holders... you have a company that just reported an excellent earnings result, appears to be in a strong position with the potential of significant future growth and you are given the opportunity to buy at pre-announcement prices... if it wasn't for the dumping of 63m shares, I suspect this opportunity would not exist.
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Last
3.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $26.30M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 538447 | 2.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.0¢ | 194229 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 538447 | 0.029 |
4 | 742067 | 0.028 |
9 | 6359373 | 0.027 |
7 | 2929923 | 0.026 |
1 | 40000 | 0.025 |
Price($) | Vol. | No. |
---|---|---|
0.030 | 194229 | 1 |
0.031 | 567144 | 3 |
0.033 | 850975 | 3 |
0.034 | 29440 | 1 |
0.036 | 50000 | 1 |
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