RE:RE:RE:Range Bound Trading And OpportunityJVrocks wrote: With all due respect, I don't think it matters what the company announces in the next little while until the people that are controlling the share price get their fill....The company has had two very important announcements in the last two days (buying up a key supplier that should add 2-3 cents per share of earnings and allows AFI to control an important segment of their market yesterday and today announcing they are working in conjunction with the University of Saskatchewan which advises crop growers all over the world)....Yesterday, the share price dropped $0.03 and today it dropped another $0.07 and that follows a drop of $0.06 on Friday....It certainly feels like the fix is in and investors are going to have to sit back and be patient and let the story unfold....I posted about a week ago about the good news and the bad news with the bad news being that the wild run in the stock price was likely coming to an end (which is actually good news as it is a sign of a real company being built)
- Kind of agree and disagree JV. Yes, it seems that somebody is "holding" the price down or it can also be a case of "penny flippers" fleeing the scene. Some bought in the .60s and .70s and that has been a nice run for them. I added a position today as I was expecting a correction from the $ level into the low .80s. Chances are we might even test the .76 level that you are hoping for.
- I disagree that the run up in the stock is done though. Affinor has to take out the all important $ barrier in order to be considered by institutional funds as an investment. The price is being held here as some of the underwriters (you know who they are) know that AFI needs capital to grow. So, it is but natural that they want to do the financing with the most benefit to them. I sense a PP/ bought deal financing news is coming fairly soon.
- I agree that there will be "growing pains" on the way but I am confident that Nick has a "Big Picture" view and the latest News Releases confirm that point that he has set his eyes on something way more "far reaching and strategic" than most investors are giving him credit for.
- I will wait to see AFI trading on Nasdaq in US and on TSX in Canada, before I sell any shares of this company. However, I will always be looking for dips to accumulate over time. Keep it at this level for a few years so I can build a big enough portfolio for my retirement as it is still 25+ years out.
GLTA..