I will get hate for this also and I did buy in yesterday but have sold at a further loss over this shocking report. My mate is an excellent analyst and he has valued the company at $.98. He has some pretty good software and has stated the cash burn runway is too long for a small company like Pointsbet.
He says the value will depreciate as the cash burn continues.He disagrees with me about it going into admin as , like me he likes the back end and the live betting software developed by Bannock will be attractive to bigger players like Draft kings, who will survive and will do well in a couple of years. He says a takeover offer will certainly be higher but no more than $2. They are waiting in the wings.
I personally think that next week everybody who has been stubborn, me included (before I sold my first lot) will wake up and there will be an almighty stampede to get out of this stock. I would say $3 by the end of next week drifting into what JJ has predicted which is near my friends calculation. JJ he says earlier than April.See no Muppet calling. Apologies to those I said that to, as I know like me you have lost a lot of money and may not recover.However you have been warned.
Get out, get out now and salvage what you can its still over $4 (for now)Have a good weekend and sorry for the negativity but accept the accuracy. My mate is very very rarely wrong (be predicted Babcock and Brown a year before they went under!)
Thank you
PBH Price at posting:
$4.58 Sentiment: Sell Disclosure: Held
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