You are more than likely right...but I have seen recoveries from much worse situations.
I am one of those holding the balance of my trade for the weekend...all bought at 1c.
I managed to bank 4 points of profit on half of it late yesterday and decided to keep the rest to see what transpires on Modnday.
The balance now owes me about .006c, so as long as it keeps trading, I should do O.K.
If something is up, we should see a trading halt prior to the open on Monday...if not, then we may still see a release from the company of some sort, in an attempt to calm things down.
We may also see another "change in substantial shareholders notice" showing a large sell-down from the mortgagee, if so, it will become obvious that the selling was not directly related to some underlying issues with the viability of the group...as procarious as it may be.
Many possible scenario's for Monday...some good, some bad.
One train of thought...the selling was mostly the mortgagee in a hurry to speed up the process of converting shares to cash, which in turn triggered stop-loss selling from others...if so, one needs to understand what may be in play here?
Clearly, forcing more shares onto the market now will result in greatly reduced returns...LOL...they may be in a hurry to sell, but surely they are not stupid? I suggest they would be well aware that to maximise returns at this point, they should sit on their hands for a while now to allow the shares to recover...perhaps even lend a hand?
Another train of thought is that some larger shareholders may have simply had enough of the mortgagee's selling and decided to use it to their advantage...selling down their holdings in a massive dump, in the hope of picking them up cheaper...clear in the knowledge that there are still some 50m shares to hit the market short term.
If I were a large holder, it's what I would do.
Of course, as everyone is suggesting, they may also be on the skids.
LOL...as I said, many possible scenarios.
Might be some interesting reading material eminating from GPE on Monday?
Cheers!
GPE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
