OTCQX:MRVFF - Post by User
Comment by
HippygirL74on Nov 05, 2009 1:05pm
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Post# 16456890
RE: good for nri @ chloe600
RE: good for nri @ chloe600chloe600, instead of concentrating on why people are selling, concentrate on why people are buying. 28 MM shares is serious volume. Let's say, and this is just a guess, that only half of the shares are up for sale and the other half is being held long-term, then, the 28 MM shares as of 1 PM represents 14% of the available shares for sale. For the record, i'll say that Covidien will start to buy NRI shares soon. Just watch.
As for why the selling: i'll say that profit taking is the answer. Many people are now short term investors happy to make lunch money, and some maybe want to buy a new car. Unlike a gold play, NUVO has not only found the gold, but has the mine and infrastructure in place to start generating income quickly. The risk is gone. Maybe i'll pick some up today. Tomorrow, more people will get the news and we should see a rally again.