GREY:BXEFF - Post by User
Post by
RichyRich$on Apr 02, 2019 5:08pm
122 Views
Post# 29572604
Management Can't Be Trusted ...
Management Can't Be Trusted ...I sold at $.31. Regret not selling at $.45 the first day of the news. What made me realize it was time to bail was the fact majority of share holders are retail investors and will panic and sell at a slower longer pace. When its institutional investors they bail all in one or two days. This can bleed over weeks as retail investors rollover like dominos. I'd like to buy back at $.15... but even at that price I feel like I can't trust management anymore. They should have looked for a merger or buyer to takeover. They could have used the $50 Mil debt available in February. Looking back... I should have sold when that Feb. 28 debt deadline for $50M was not used up. This stock had potential at 5.0% of book value... but not if those idiots in management sell away 85% of the company to the bank! Even though management sucks and is not trustworthy... at $.15 I'll buy back in. Just looking at the charts ... there'll be a lot of retail investors jumping on board seeing it used to be $60.00 and now $.15! This has been a lesson for me to sell immediately on bad news before it drops more. Everyone hates to sell the first day on the initial loss... but I've seen time and time again it just keeps going down for many weeks before a rebound. Normally I don't like to sell low if it dropped on insignificant news or reasons. But this is real. However... the book value even after this deal... is still $1.60 for the original shareholders. Everyone just doesn't trust management anymore.