RE:Guess this is going to 1 centSilverspot225 wrote: Brokers are crooks and will drive this down to 1 cent. Nice legacy Eric Sprott is leaving. JMO SILVERSPOT
Wow! Is it always this dramatic on this bullboard? Down three quarters of a penny today and this leads you to conclude WM's Market Cap is going down to $8.9 million (i.e. 1 cent), even though WM has $47.5 million in cash and cash equivalents and a total combined indicated and inferred resource of 3.6 million ounces @ todays current gold price of $1718.80 (at the time of this posting) for about $6.2 billion dollars. Interesting analysis. I wonder if you apply your metrics to all your stocks.
First of all only the institutions can trade quarter pennies. You or I cannot put in a trade order at quarter cent increments, so this gives some indication of who's controlling the stock. It's clearly not retail investors. Second, on Wednesday the Fed is expected announce another 75 basis point increase in interest rate hikes to combat continued inflation and this affects gold prices which is why the price has come down ahead of the announcement. As I mentioned in a previous post, if the average consumer doesn't choose to curb their spending then the Fed's will make you curb it through higher interest rates. So be smart and start reducing your spending to get through the pain faster. Especially for those in gold stocks. So I suspect whoever is manipulating this stock is positioning it for the Wednesday announcement, as an excuse to lower it a bit more before we see any reversal. I mean, let's not act too surprised when the Fed's make another interest rate hike on Wednesday, but of course the markets will. lol