Very Concerted Effort In Terms of the Short Attack.....No question about it. False and fraudulent insider trading report, high frequency trading of 100 share lots, the Bloom Burton report, the SA article, a huge number of never seen before negative posters on this board all trying to "help" the longs out by encouraging them to dispose of their shares. Right at the height of tax loss season.
Tough 2 or 3 weeks to be a long. That is for sure. I'm a relatively small player, long about 52K shares and I never thought I would do this, but my shares will be offered immediately for sale at a much higher price, not because I will sell or want to sell (the order will NOT be filled), but because I will not let my own shares be used against me in this kind of attack. I'd suggest, as another poster has already, that other longs do the same immediately. Not likely to help much in the overall scheme of things as the float is large, but it can't hurt and will at least, as a long, give you some sense of satisfaction in this (hopefully temporary) difficult period.
I have no beliefs that PLI is a perfect company with perfect management but when I look at the past few weeks this decline is simply not logical to me and appears to be the result of an extremely concerted effort by short sellers. I just spent about 2 hours looking at all the insider action on PLI. Even in the past month Thomvest has purchased 4.5 million shares, both medical personnel with Prometic (Hakim & Moran) have been buying, not selling and Pierre Laurin's activity has been to exercise options and sell, only to buy back with the entire profit on the trade and roll it back into his personal holdings. Another small insider purchase today from a director who has done nothing in his time as a director but purchase shares. Going back 2 years on Sedi, about 80% of the insiders I searched have only bought and never sold, almost all of them recently (in the past few months) as well.
Insiders may sell for a lot of reasons but they only buy for one. And it is simply not logical for me to believe that someone who puts out a fraudulent document, writes today's SA article, or shows up out of the blue in the past two weeks on this bulletin board knows more than the insiders who are buying the shares with their money.
So it simply doesn't make sense for me to sell and I will not. I'll also make sure that my shares can't be shorted.
I'm not interested in responding to anyone on the short side of this and I won't. You're entitled to your opinion and agenda but it serves no purpose to litter the BB with a lot of back and forth (and garbage) between people on opposite sides of the fence.