RE:Big mistake to sell it now...I agree with your post and personally think this is oversold. Though volume was higher than typical trading days, it sold down on pretty low volume in terms of outstanding shares. A little over 0.5% of the outstanding shares traded today. Likely a bit of day trader shorting, stop losses and some tired shareholders. This looks like a viable company with an oversold chart.
NYX2017 wrote: I think they are being punished for results that we already expected if you've been following the past quarters.
Some bad decisions from management? For sure. But I think they are doing what's necessary now, and are focusing on the right things to get the balance sheet fixed.
Just like most of us here I suppose, I'm in the red, but it doesn't make sense to sell now, when you can't even claim the capital loss before at least 1 year...
I think those selling are angry or want to send a message to management, but rationally, it's a mistake, it will only improve from down here.
The US / Galaxy move was a risky one, maybe not the right timing, but it was an opportunity and I belive we will reap the benefits by Q1.
I'm not "in love" with the company, I just think we should give it at least 2 more quarters to see how the restructuring and new launches go and then decide.
Remember, Matt is on our side, he is a large shareholder and wants the business to thrive as well.
At these levels it has attracted some traders that are playing with the share, and weak hands are letting it go, as well as some funds that have to have results every quarter to justify their fees.
But for long term retail investors, it's a buy IMO.
Good luck to all.