RE:Oh well..Montrealais wrote: So I'm buying more at these levels cause I do believe in this company. But honestly I'm pissed...
Nothing makes sense here.
The market started the day terribly and has since recovered to almost break.
Yet this recovery has not translated to Stars Group Stock which is still sitting at a greater percentage decline than the low of the day for the S&P.
This low volume stock seemingly has no support level at all, the institutionals and insiders holding 80%+ of this stock are neither selling nor buying at any price.
In short the stock price and trading is badly disconnected from the intrinsic value of the company.
Its a scary time to be holding this stock right now as a long, on paper we are getting destroyed but I beleive holding steady and not selling in panic is the most appropriate response at this moment.
It seems a recovery for this stock requires more optimistic guidance from the company and a general market recovery which means we are looking at a bumpy ride for quite some time.