The shorters were always going to take this under $1 and this week with a weak couple of days on the US markets they seized their opportunity.
All those stop losses they knew they would hit under $1.00 and not to mention the panic that comes with seeing the share price in the cents which causes more to fold.
Does anyone truly believe that GXY is valued at these levels ? The only ones selling now ( apart from the shorters selling borrowed shares ) are the panic sellers.
Just as easily as it has nosedived , it will climb again .
Those same experts that were riding the bull
18 months ago and never picked the downturn are now the experts we turn to who tell us it will be a prolonged bear market ?
So no one really knows what the share price will do in the short term or even medium term, but it’s worth a $heet load more than 94c . That I know for sure !
Hang in there longs
GXY Price at posting:
94.0¢ Sentiment: Buy Disclosure: Held