I wish my predictions had not come trueFellow CMK bag holders,
As posted here by me a few weeks ago, I suggested that our beloved old dog, CMK, was on its way to the $1.80 range. Someone here told me to sell and go away.
Well, I am still holding, because I stubbornly refuse to sell at a loss, especially in the TFSA. And still pretty peeved at management for doing NOTHING (other than taking pictures) to prop up the share price, or at least mitigate the bloodbath. Yes, I realize the entire market is selling off hard... most stocks are down 2 - 4 % or so today... but Cline? 13 friggin' percent? WTF? Why the exponential punishment for Cline? Could it be that management is so far removed from the rest of the civilized world that it knows not that the market cap of this company has been halved in the last few months?! At these prices, a reasonable take-over would be at $2.50 or so, which would also mean that many of us will crystallize our losses or make minimal money on the sale. I hope that if a bigger player does make an offer in the near future, it will be at a time when our sp recovers to respectable levels. At least it gives some of us a chance of recovering most, if not all, of our paper losses to date.
Either shorters are having their way with us, or someone with loose bowels is letting their shares go for a song and a dance (and in the mean time, taking the rest of us down with them), or both. Either way, this sucks.
Anyone have info on the short position on Cline? I'm curious to see if the short position has increased over the last 2 or 3 months or so to expedite this calamitous implosion in sp.
Barisian