time to look into the mirror and stop blaming everyone else. AGO was overpriced at $3, P/E of over 40 early last year when they were making profit, when a company is trading on P/E of over 40, you expect profit to rise, instead they turned into a loss last year. They had been very disappointing and in September last year people realised that AGO also had been using cash cost which hide the real cost of production.
Short selling doesn't depress share price over the long term, it only creates buying opportunity, provided that the business is actually sound. In the case of AGO, it was just badly overpriced
P.S. I lost a bit of money on AGO as well, got sucked into the hype. When I look back I didn't see HFTs, evil short sellers, only a badly overpriced stock.
AGO Price at posting:
93.5¢ Sentiment: ST Buy Disclosure: Held
