Sold on opening this morning but just wanted to wish all holders the best going forward.
I really like BUD but 27c was my absolute last stop and I sold out, reluctantly.
I was heavily overweight on BUD and am still very keen on it long term but after being significantly up I was not prepared to eat into my original large (relatively for me) investment if the drop continued. I had said to myself a week or two ago if we get down to here I would have to sell.
I can certainly see it consolidating around here or even bouncing but I can also envisage further weakness and despite thinking long term it's a great hold, had to stick to my word and sell to protect my initial investment. In other words, there are several factors at play here including potential deals, shorters, escrowed shares, options, holiday period etc and I really have no idea which way things will go.
The total and utter lack of support for the price did take me by surprise and it's hard not to wish I had taken some profits when we hit 40c+. Easy to say now. To me this price seems a nice entry point but the chart, despite showing perhaps it being oversold, also shows a drop to previous support levels is possible.
I also can't shake from my mind all these shares coming out of escrow. Even if only a small % of the 300,000,000 get put up for sale, on these small volumes it won't take much to depress the price further.
The elephant in the room is the global distribution agreement but my concern now is there will be no minimum contracted revenue amount. I'm not sure how you would come up with an overall figure to apply a minimum too when talking about 100+ new markets. This doesn't take away from the fact it's a huge positive I just don't know how the market will react to it, if at all, if there is no confirmed minimum income from it. I feel the stock has moved from people wanting potential sales, to actual sales.
I have been a strong supporter of BUD and am definitely going to keep watching it and look to buy back in, I just want to see some of this uncertainty regarding escrowed shares and potential deals clarified. It may mean I have to buy back in at higher levels but so be it.
To anyone holding strong, honestly wish you all the best! Now that I have sold there is a good chance a reversal will happen imminently
I think BUD is great medium/long term hold and hope the current weakness is short term for you all.
Cheers,
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