Where is the Wolf of Wallstreet in your time of need? Sounds like he had a margin call and got wiped out like Jesse Grimes. Important lesson of the day, don't fall in love with a stock or industry. I sold at $9 and have a massive capital gains tax to pay because I was incorporated as a day trader. I owe the government over $300000 based on a $600000 profit. I subsequently lost all my gains playing nat gas futures but am about back to even now. So 8 years of blood, sweat and toil and I have nothing to show for it after 8 years.
At one point I was down $500000 on BTE, I made it all back and turned a profit. Looking to get back in but the most important consideration is the oil price. At $80 a barrel it's just above the survival line, maybe a $6 stock. The market tells you what the stock is worth. Let me repeat. The market is saying BTE is $6 at $78 to $82 oil. No more, no less.
The fallacy of Wolf was that he reported to know it all. Yes, I was very frustrated with BTE and thought I would never see my money back as there are no guarantees. I lost hope but I still held even though I complained every day.
Wolf's cash flow projections and June 2023 exit looks bleak now. I really think he was a paid contributor for Eric Nuttal and was paid to pump the stock.
I have always shared with raw emotion and live to tell my tale. I recently paid back my Father $160000 that I owed him with my BTE profits.
I was down 150K on paper again on HND but now am even. I keep chasing the next big thing but should be more prudent in my approach.
Looking to get back into BTE but not until it bottoms and I feel the oil price has more room to go down. Maybe when oil hits the $60 range I will jump back in but I think there is no rush with the recession looming.
Can we all agree Wolf has let you down and you bought his spin hook, line and sinker?
How can he justify the price of the stock anymore?