We are indeed not alone. Lots of stocks - especially tech related have been smashed over the last 12-months. It's still painful to watch though! Especially when you see the major banks racking up record profits. MME's goal is to be the #1 challenger to the banks!
In general terms, I feel like fortunes can be made in this market, so that's how I'm trying to navigate things at the moment. But can I take control of my emotions? Can I ignore M. Market? If I objectively look at MME do I think it's a good company? If so, I should be taking the opportunity to average down.
I still see lots of potential in this stock, but the two big downside potentials I can see are the capital raising/dilution in the current climate as well as the potential of bad loans as higher interest rates take their toll on the current loan book.
My entry point into MME was in the $1.90 range and I have averaged down to about $0.70. I'm considering purchasing another parcel and further averaging down to $0.50. This will give me a substantial capital gain when the stock recovers to anything over $1.
I guess hindsight will make things look so easy. GLTAH!
MME Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
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