Olivut Stock Price and Stock Price History I have followed Olivut for many years and I own a solid number of shares. Like many of you, I check it every day and on most days, I check it a couple of times. Occasionally, there are investors who, in good faith, try to apply technical metrics to the stock by attempting to call bottoms and predict rallies. At the current price levels that have spanned the past 10 years, technical metrics do not apply to this stock for the following reasons: It is too thinly traded, there is no pattern to trading, trading is erratic, the shares are tightly held ( it is not easy to buy a lot of shares at the current price range because few investors want to sell) and most importantly, the news is scant and hard to come by. Does this mean OLV.V is a bad stock to own? In my opinion, quite to the contrary. I would not consider selling my shares at the current level. Olivut has an excellent team and the rights to explore excellent properties. And they understand optionality. However, I bought low and there is very little for me to win or lose by selling at these levels. For myself and others similarly situated, a win-win situation has been created. If the stock plummeted to zero, it would not have much consequence for me. The other side is that I have everything to gain by holding on. I suspect that for many of us investors, this is why the shares are tightly held.
Has there ever been a meaningful stock price momentum with Olivut? Yes, once. Between 2010 and 2013, Pierre Lassonde was periodically interviewed by Eric King on King World News. He was always asked about Olivut at the end of the program and everyone waited, with bated breath, for his assessment or some news. I believe that Pierre’s success and magnetic personality coupled with his periodic optimistic (yet guarded) perspectives on Olivut, kept the stock above the $1.00 level. It peaked a couple of times at $1.94. However, the stock started plummeting badly in 2012 on one piece of sensational news. In September, 2012, Vladimir Putin claimed that a gigantic deposit of industrial diamonds was found in a huge Siberian meteorite. His scientists declared to have found trillions of diamonds (https://www.nbcnews.com/id/wbna49074238). The claim was never substantiated. Nevertheless, OLV.V plummeted immediately on the news and never recovered to anything resembling its previous levels. There were a couple of encouraging bumps to $.35 over the past 10 years but during this time, it has basically become a speculative stock in search of some good news.
While Friday’s 37.50% increase is encouraging, I have seen this type of dramatic action too many times in the past to give it any credence. The bottom line is this: We need some good, solid news as in sample drilling, documented discoveries or optionality agreements. Only then will stock price take on much meaning.
JD