RE:RE:RE:Trading in the same zone for months, not new, not a panicI feel your pain, man. I do. I'm a big bag-holder now myself, having averaged up a lot when the price spiked. But I'm honestly not worried.
I think the fair price was $4 - $5, and the run to $6 was excitement, so the fall-back was not unexpected. I certainly didn't expect it to drift to $3.50-$3.70 but I think that's clearly related to the issuance pricing (which was really out of PYR's hands; the brokerages set that price, take it or leave it).
And while I think it's fair that a lot of contract news was baked into the price, the encouraging thing for me is that it HAS continued to trade within the same range since mid Sept, and
didn't plunge out of that range when the initial torch contract was smaller than so many people expected. The other news around leasing, Navy contract, and continued talks with modelling clients have kept it safely in the range.
Too often forgotten is that this is a new phase for the company, in terms of generating bigger revenue and positive earnings for really the first time, as far as I know (I wasnt in prior to 2020).
So the determinator in my eyes is not the torch contracts per se, but that it's ony one quarter, and the market likes a track record of numbers to make decisions, especially on the bigger exchanges. Clearly the market is waiting not only on more torch contracts, but also additional quarterly results. The price has settled into its range and the bigger market now cares less about the past hype, and wants a track record of numbers.
Q4 looks to be a banger just with what's already known in the backlog, so that should help alot.
Seems like a shame to not watch this play out, as it just entered this new realm of product commercialization and a new capital market.
SigmundsID wrote: The problem is we have a contract now, we also have an earnings report that was quite good... but, the price contrinues to drift around this zone. This seems to indicate that the higher prices had already baked in some levels of performance that had not been reached. Given the slow speed that we are operating at there I would not be optimistic about a bunch of new contracts at any time before the New Year. I personally suspect we won't see a substantive torch contract until March (just an opinion based on this falls performance).
patrickp wrote: MidtownGuy wrote: Geez people. There's nothing startling about today's price or any price the last several weeks. It's a waiting game on big contract news, with holding pattern trading, and anyone that says otherwise is just yanking your chain.
All the trading is happening in the zone between $3.50 and $4.00.
Not sure if this link will be accepted by SH, but here's the daily chart since mid September.
https://cdn-ceo-ca.s3.amazonaws.com/1fsl9vf-daily-pyr.jpg
yes we know, but as time goes on and no contracts are signed, the support will be broken. guess we will see monday but december will be a killer for sure (positive or negative )