General comments/chat, page-44700

decades ago I was very heavily into Pasminco at 80c along with dozens of friends and colleagues, started dropping in price for “ no reason “ but I did not double up due to the fact I had no money to spare, most of my friends kept on doing so….all the way down to 5c, and I am talking big money. Then, again for no reason into a halt then a suspension , then delisted. The Directors had hedged the company on the Oz dollar to over 2 billion dollars and it had gone to under 50c end of the company with not even the brokers having the slightest clue as to what had been happening. Banks then owned it, relisted at $2 a share, banks got their money back and shareholders in the original company got zilch. Doesn’t always go pear shaped of course and hopefully we are going to have some luck on our side for a change.
but one has to be very careful doubling up on any stock let alone one with such a bad run of events. Imo, good luck all.