Opinions on stock price recovery pleaseYesterday morning I stated in my post:
IMO the common has much more upside than the preferreds (on a % gain basis)
This morning I see that the commons increased 20%
A few weeks ago I sold some common to buy preferreds and in hindsight, that not only will I realize dividends, but the preferreds did not sink as much as the commons have recently. My conclusion is now that there is so much upside on the commons that it is not the right time to sell commons for more preferreds.
A number of us believe that YLO will survive and that transormation will succeed, but it will take time. Therefore the stock prices must eventually recover. However what will the recovery %'s be? The preferred will work their up to $25, but to what level will the commons recover.
Selling commons for preferreds is not the right strategy at present, but it will be again in time.
Anyone care to try and find this perfect balance between all these prices
Opinions welcome, as I believe we have bottomed out for the present and prices will rise again
GLTA
SC