Having seen this stock climb to 16c last year,and then slide, its re-valuation does not surprise me for one.
It rose last year in a bull market on speculation. (it's a spec, and still is) That speculation was focused on the coming together of the "cogs" that would deliver the company vision into a reality. I am sure that JM expected orders for their product 12 months ago, (he indicted this in the AGM last November)
No orders came, so the price began to retreat, even before the subprime/credit crunch arrived, so the stock got sold down.
A good indicator for me was when JM bought stock at around 10c. He must of thought that was cheap! As we all know the biggest problem is debt when interest rates go up and credit is unavailable. (even the best ideas will die off when burdened with debt) So JM bought us time, (at a very cheap price i'll grant you) by accepting 5c for the offering to "private investors" Very shrewed, as it turns out.
Now we are seeing orders, now we recover and begin to grow.
This spurt seems to be different this time, as there is no volume. (maybe the traders will stay away) I believe we have a desirable competitive product for the world ATM market, and having weathered the last period i intend to hold my position.
PS. Having sold stock at a profit and many times at a loss, in order to close a position, and then see the error in that decision as it takes off based on the reasons why i had invested in the first place, is a lesson that i am determined not to learn once again on this one.
PPS. The only thing i do not understand is why the director who resigned, exercised, and then sold half his options?
STL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
