RE:RE:RE:RE:RE:appears we may have found bottomAh, Gotcha. You're right, $8m isnt a big number in the grand scheme of things. However $8m in a couple days is a HUGE number for this ticker who frequently shows aenemic volume. And there was clearly more bid sellers than ask buyers. Does the overall impression of the company by the vast market warrant the tides to change? As you said, you'd need an impressive Q to do that.
Well it might be a big assumption to think that FIRE will somehow pick up traction now. But anything is possible! You're right, there has been things done to (at least) push the demise of the company to the right.
My only point is that calling bottom amidst a huge equity liquidation isnt typically a prudent thing to do. I typcially play with what the market gives me. Holding ones breath hoping for money to pour into my account has never been my style.
I wont be shorting this stock. Buying debentures and shorting equity was the move. That much was obvious. I'd have covered into this volume for sure. But hey, what do I know.
Method wrote: Your base assumption is that the selling is going to overwhelm any buyers so the stock price will go lower.
There could easily be more buyers than sellers. $8m is hardly anything vs the total amount invested in weed stocks. It will likely take good results or the promise of good results but there are some positive developments in the narrative for FIRE that weren't there 6 months ago when the market cap was much bigger plus the debt issue has been stabilized for a while.
Are you going to short the stock? If so what's the borrow these days?
puppymonkeybaby wrote: Im not seeing your point here method.
Method wrote: 58m shares at 14 cents is $8m.
Its not a lot of dollars. You shoild factor that in your analysis.
puppymonkeybaby wrote:
vulcan123456789 wrote:
looks like we have some support ...14 holding and lots wanting in.. up and down to .145. may get things moving soon.. as we get closer to quarter release...dont in any way see the nickel that was thrown around.. lol..
most who had a clue seen this hitting 12/13c since this was the break even for the debenture holders converted equity.
Don't forget about 4 months from now for yet another dump. What's most likely is that this will have a tremendous amount of selling pressure until well into 2021.
I see no point in buying equity until at least after the roll back. Even then, that'a assuming financials dictate to buy. They have never yet done so. So stars will really need to align before this gets traction