Good on you on holding this stock from before as well as taking some profits.
(Sorry for slightly long post, I know many don't like long posts, so please ignore the post if so)
Sometimes in stock market we become a bit greedy and not happy with decent profits, in many cases going back to being in deep red. A common story now on many threads (SYA/CXO/LTR//IMU etc) where punters thinking why it went wrong (shorters etc), but the truth is, it happens. There is always a chance to make a much bigger gain, but it depends on individual risk/reward.
I would not like to comment on why MEI share price has not moved. There must be many people holding here, whose fundamental study must be much better than me, so I will leave that out. As mentioned in my previous many posts, I am very wary of fundamentals and its relation to share price. After watching many stocks which made 100 to 1000% gains and then later giving back most (many including shares I mentioned above).
So for me key is price action. If price action is good, sometimes I even ignore fundamentals. On Lithium stocks, I always write about Stage 1 (hope/potential/hype). Just based on nearology etc there can be gains of 100 to 500% in short period. I feel I know what is happening, its mostly hype, but I play along. And get out anytime price drops 10% below the high it has reached or before any drill results (Stage 2 - facing reality). Just yesterday I wrote on RDN thread. It jumped from 3 to 8, I got out at 7, and now its back at 3. Second play I do is on strong price action. When WC8 was in 30s I suddenly felt a new wave of price action. The stock had already risen from 2.4c in the beginning of the year. But I could sense there is a strong price action. I kept buying. At one time 60% of my portfolio was WC8. It reached 101c. I got out at 90c. I was writing there daily. Wrote the same day I got out. Today its around 75, has reached a low of 64. So am not entering because I don't see a similar price action, see some holding pattern where stocks can stay at one level. Holders, even today someone wrote to me - if you are believer, why are you not buying back? I have tried to explain that I am a believer of good price action, but I know its not easy for others to understand that concept.
I can understand why you would to wait out few years for further rise. Your wait over here because it has already paid you dividends. You are familiar with stock. Same reason sometimes when there are 1000s of suburbs, some stick to one suburb, or north-side etc. Same with stock I feel. Its not about it being the best - in fact, holders of each stock feel that their stock is the best and hence they are holding. That's the inside view. From outside, across 1000 stocks, you can see that not all 1000 can be best stocks. So again human behaviour (familiarity/perception/knowledge/convenience etc) come into picture why each punter in each stock think they are holding the best. For me, I will wait for a better price action. Reason being, we all have finite capital, so I can try to make some coins elsewhere. Hope it gives some sense into my thinking. I acknowledge, it may not be correct, it many not be best. But human behaviour has also taken over me and I feel comfortable doing it this way. All the best. . For those interested how MEI is tracking against other REE stocks or who hold multiple REE stocks, I do a Weekly Report across 26 ASX REE stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.
(20min delay)