Agree mostly. As flagged a few weeks ago I've been buying in the low 80s, high 70s. Wasn't sure how low it would go, but expected some sort of capitulation move. Hopefully I timed it well and we're past the worst of it.
Manipulation
More than just nay saying, my argument is that it serves no practical purpose to believe it. It definitely didn't help HS/MG read where the stock was going. It'd be just as useful to blame it on the illuminati or the fairies at the bottom of the garden.
It's just a crutch that serves to help people avoid looking at their own errors of judgement. The unstated part of it is that "we got everything correct, but the bastards are trying to trick us". I'd guess 80-90% of the supposed "manipulation" could be more accurately described as simply "selling". Selling due to company delays, failure to convert PENOC, world markets tanking, Uranium renaissance not happening, and too much ramping back in Oct leading to an overhang of suckers who now need to wash out of the stock (I suspect/hope that they now mostly have).
Small Free Float
It's pretty twisted logic to suggest that a small free float is bad. I wasn't convinced at all by Zub's argument that there aren't enough fools. I'm confident that more fools will be found! We won't be hitting peak fool any time soon.
Have you got a better reason to believe that a small free float is bad? The only negative I'm aware of is that it can magnify swings in both directions, which is probably contributing to the magnitude of the sell off now.
PEN Price at posting:
78.0¢ Sentiment: Buy Disclosure: Held
(20min delay)