Selling, holding and individual motivation For sure there’s going to be selling. The stock has moved up significantly over the last few weeks. But, this story has only started to unfold. There is a lot more play here. Some very smart people went into that private placement that was recently completed for $2.1 million. Those investors are in a four month hold. Obviously those investors went into a restricted scenario for a reason.
Its my belief there is longer term value here.
The selling over the last three days has been negligible. 2.8 million shares traded over the last three sessions. This amounts to 700,000 shares pre forward split.
Many investor accounts are held in brokerages. These investors could’ve sold because their brokers would’ve known of the forward split and allowed them to sell.
Clearly, there is not a strong motivation to sell from many of the larger investors in this story.
The company has outlined an initiative that encompasses the European market as well as other global markets. This is in fact going to be a global play. These are not my thoughts but rather the actual intent based on the last few news releases.
While there may be some selling pressure, I see this as a temporary situation.