I made big money in 2017
on this stock and I had no positions in it. I think the precipitous plunge was overdone
due to:
1. The forward p/e is now about 5.4x
2. Too fierce the decline
when its Q2 performance actually improved.
3. Volatility as mentioned
by the CEO does not mean the share price has to come down. It may mean it can
go up too.
4. The insiders will
likely go in and buy the stock very soon again. Once people see this, some
confidence will return.
5. The reasonable price
level should have been 98 cents.
6. The big volume achieved
in these two consecutive days can mean all weak hands have been flushed out.
When others are fearful, you must be greedy especially when the reasons for the extreme pessimism are unfounded.
I went in to get my first tranche at 75 cents. If it dares to drop further, I will buy more.
When others are fearful, you must be greedy especially when the reasons for the extreme pessimism are unfounded.
I went in to get my first tranche at 75 cents. If it dares to drop further, I will buy more.
Superphang
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