I sold out before the recent SPP as I was already sitting on a loss that I no longer felt I would be able to see recover in this stock. As I’ve said I still watch the company for a time to buy back in. As for this stock been short sold what institution owns CCE to lend to short sellers. It’s purely market valuation of this company and it’s all south. A part done Northam that ain’t going to bring in the millions this company burns a year won’t lift the long term outlook. Which is a problem given they’ll need to do another SPP at some point. They I suspect don’t want to keep the TAG shares in the company as two money losers are getting merged.
This mornings rise is a dead cat bounce fuelled by non sophisticated investors who unfortunately I am also. But least I’m wise on this stock now. Expensive lesson!
CCE Price at posting:
1.8¢ Sentiment: Sell Disclosure: Not Held
