Promotion & Perception..A " Good Friday " story from my PM past....
This is NOT " apples to apples " with SLX and not intended to be . Just Perception and Promotion. Just read on.
In the mid 80's with gold and silver rolling back over a broker recomended i back up the truck with XXXX stock.
Can't miss....properties in Nevada and Mexico..a sleeper. So i " backed up the truck " for me at least at the time.
XXXX was selling for about $2 per share so i legged in over time ending up with 10,000 shares. Basis a hair under $2. Fast forward and the stock tanks...i mean really tanks to under 10 cents - yes a dime! Never sold. Then it tanked some more. Ended up in the pink sheets at a couple cents. We had a series of " reverse splits "...and tanked again. Reverse split - TANK...etc..etc...Over a period of years i believe we were at 200 to 1 reverse spilts - trading at $.30 US.
FF to 2005 - was at the YHOO BB's of AEM, GG,RGLD and PAAS. Strangely enough were selling for about the same price - $15 to $20. Gold under $600 and silver under $9. Had forgotten about my XXXX shares although i did have alerts set just in case anything happened. One day they went off. They NEVER went off.
Stock doubles in minutes and i see the NR below and i go to the aforementioned YAHOO BB's and say - OMG...buy XXXX..market doesn't really know it yet. Could have bought it all day long for $.70. Ended the week over $2 and after one of the most parabolic moves EVER....topped out over $12! Why? Just because of one person's name. The company - XXXX - was the same.
Perception changed. XXXX finally had a Promoter. Instant Gravitas! I sold out at $4...hahahaha which was actually still a HUGE loss.
Any guesses? The company? The name? Scroll down for the NR and chart.
https://www.usgold.com/index.php?option=com_content&view=article&id=261&Itemid=267
Scroll down for the 10 year chart.
https://tmx.quotemedia.com/charting.php?qm_page=22829&qm_symbol=UXG:US