That's what I assume too m123, but I invested in a small pharma once upon a time that was all but bk due to management infighting and resulting bad decisions. They were no longer in compliance with their bond covenants, so it was just a matter of time. I sold at a huge loss just to get a few pennies back. Wrong move.
A few weeks later the company cynically released PR on a paper that was meaningless and several years old. The intent was to push up the stock price for a day or two as the hapless retailers jumped in, and the insiders jumped out for a nice, soft landing. Too late for me. I got run over coming and going. A lesson in how the system is 'rigged'.
So my shares just sit in the bottom drawer, and I'll await a bit of news that might get me close to break-even. The company might not know how to move through the (corrupt) regulatory process, but here's hoping they can still figure out how to orchestrate a price spike. Or am I overestimating their abilities?
PBT Price at posting:
6.3¢ Sentiment: Hold Disclosure: Held
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