RE:RE:Seven years ago..So true...think MJ companies too....lots of companies change their names and focus as well, moving with the times and trends. It is why NXO still had\have mining assets.
My own experience was a company called Finore Mining, that tried to make a deal with Kushtown Beverages out of California to enter the cannabis market, (here I bought) failed, (here I sold) then amalgamated with and changed its name to Micron Waste (a biological waste "digestor" that never gained traction)) and which is currently Beyond Medical Technologies, (they focused on medical masks during Covid)
They had a recent share consolidation (late 2022), and are "looking for new opportunities now)...per G&M....and trading around 3 cents...with no revenue....and scant news releases.
Have a cup of coffee and read the news releases going back...page 10 they are still Finore....
https://stockhouse.com/companies/news?symbol=c.doct
The ENTIRE "emerging companies" sector is fraught with all kinds of risk, and very few actually make it big. Many more than a VC company or record label that likes a 1-2 or so in 10 home run which pays for all their losses and more
The ONLY way to manage risk your own is to make sure you understand what they are doing, are run by people who are there to honestly grow a company (vs milking constant capital raises)
THEN LIMIT EXPOSURE TO HOW MUCH YOU ARE PREPARED TO LOSE You don't ride prices down, average down, etc...but set a limit then sell. No problem coninuing to follow ....like I do with NXO....because "the horse may learn how to sing" (Google the reference and you will find Nasrudin stories...essentially an Asian equivalent to Aesop...and totally enjoyable)
Maxmoe wrote: Get real. There must be hundreds if not thousands of startups that never generate a penny of revenue. Start with hundreds of penny mining stocks. Add in a few dozen biotech/drug research companies. Congratulations if nxo is the only one you've ever come across. Now don't scroll back in your own history and find examples you've posted the same complaints about. That would be embarrassing.