Too true Denial, expect the unexpected! Things can go either way.
There's no doubt the news will be well received but unless GBG bring out an announcement before the market opens on Monday, I think the odds are in favour of another drop. Aside from the finance approval and Ansteel's last contribution, GBG's other sticking point is the lack of earnings that will prevent it going against the market trend. It will still be classed as a spec.
The good news I see in all this is the pace that stocks are plummetting at. They can't keep up that pace forever although as the price drops the percentages increase. Even though the end is nowhere in sight and it hurts now, it would have been far worse if stocks crept down over a 2 or 3 year period.
GBG Price at posting:
31.6¢ Sentiment: None Disclosure: Held
