Can someone enlighten why GNC has fallen 14% in 3 days from its recent high whilst a bank such as ANZ with $millions of bad debts staring it in its face has dropped just 1.47% in the same time frame.?
There has to be more to it than possible shorting by Norges Bank of GNC.
There are some posters who have reduced holdings or sold out on technical analysis or for other reasons. Protection of capital is paramount. GNC has not paid a dividend since Nov. 2018 which was a paltry 8c. Unless you can Buy low and Sell high there are much better returns elsewhere atm.
It was not long ago a string of brokers had a sell recommendation on GNC as published in The Australian. I dont recall an outcry from the rusted on faithfully at that call. I have previously published ranges for entry and exiting which may or may not be proved correct. Like most of holders I am here to make money not lose capital. There will be ample grain to sell in 20/21 so why is that not reflected in the current share price?
Another consistent poster was adamant they were not adding until the price was well under $4 sometime ago. Well I am in that camp atm.
GNC Price at posting:
$3.99 Sentiment: None Disclosure: Not Held
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