RE:RE:Frank Guistra Video Interview on Aris MiningAris stock has exploded and needs some time to digest its move. Earlier this year people bought the stock above where it is today and saw it plunge. Those trapped longs are likely selling to just get out.
The entire mining gold mining sector is in dumpster for valuations/stock price. The HUI is at the same place it was in June with gold a full $100 lower. As the Dow is racing towards all-time highs, who wants to buy into a sector that's been in the basement for so long?
If gold can sustain $2000+ prices for awhile, buyers will come into the sector and grossly undervalued names like Aris are bound to take off higher. I think with equity buyers is that they've seen this $2000 movie before and has only resulted in capital losses. It's going to take time to restore investor confidence.