Panic selling, vultures are circling
Out of control selling for little reason? Here is my take.
RBC Direct Invesing today on WELL: undervalued and fair price at $1.63 up from $1.43 two days ago. Strong Buy at 1.6 (1 being strong - 5 being sell)
The only reason I see for this is that some stock holders decided on taking some profit when it hit $1.70 and the rest followed. Why? These Special Warrants issued for $1.45 and 10.3 million shares are due to be cleared on October 11th.
I think and I may be wrong but either on Friday the 11th or the Tuesday after the holiday this stock will rebound. I am only sorry I am not able to take advantage of this selling and be one of the vultures. Funds will not allow.
Anyway, hope I am right as you (plural) are also. Can the investment houses and Directors of WELL have misplaced their investments and plans for the growth of this company? We hope not.
GLTA especially the longs.