Re: Time to SellWhat do you think 69,000,000 shares coming to market in the next 10 days with a ACB of $1.30. What would you do if you made 80% in 4 days?
Does this make sense to any of you. 4 days ago the equity offering closes, they dilute the share base by 20% the shares are priced 20% lower than market price on Tues. (so far this all makes sense doesn't it) Then the shares rally to new highs, going up 80% in 4 days. The professionals that priced the deal 4 days ago thought the FO was worth $1.30. What do you think they are going to do once the shares are tradable? Do you think all of the insitiutions that participated are true believers or do you think they will sell to make a quick 80%, knowing that 69 million shares will drive the price down hard and they can buy them back for a lot cheaper.
Sell now and buy back when this thing tanks