RE:RE:BOD Update
Munger wrote: With no plans for IR, the Company, short term will be crushed by 40 million shares becoming free trading. I'm not buying any more shares til we hit single digits. Retail will move this stock and no promotion equals no new buyers Holding for the remaining of the year to see how their plan executes and will buy more sub 10. This happens all the time with stocks that have large tranches of free trading shares. If they execute it should come back quickly.
Munger.... I will have to respectfully disagree with your statement about the share price "being crushed when free shares become trading", and here is why....
Only 56 total investors participated in the PP offering for a total of 37.7 Million shares. The other shares were picked up by the insiders of the company.
Because of the small amount of investors participating, I don't think that 40 million shares hit the market "free trading" as you suggest. I beleive a good portion of these are held in firmer hands of serious investors not looking a "flip". Yes.... there will be periods of volatility, but focus on volume of the stock. The shares purchased on accumulation days are exceeding the shares sold on bleeding days. From a technical standpoint, this ultimately leads to higher highs and higher lows on the chart. And this is what the chart is exactly showing since just before Christmas.
If you look at the QNC.V Chart, the recent share price is a healthy retrace to the 50 dma. And all the while other stocks are getting crushed in the market. When looking at the chart, I now see a trading range developing between $0.18 (bottom) and $0.40 (top). First line of support is the 50 dma at $0.18. Second major line of support is $0.125 if it ever gets there.
Next.... what happens when the next technological achievement of significance takes place for the company? There are some really smart guys on the QNC team at the moment!! Do you not think that this is Bertrands "baby" and he isnt fully committed?
The latest news releases of technical significance tell us this: They have already achieved "300 Mbps of random bits using commercially available and off-the-shelf components". And QNC plans to "commercialize its first QRNG product by Q2 - 2021."
In conclusion, I fully beleive that every news release put forth from this day forward that reveals tech achievements/tech advancments de-risks this investment bit by bit. And every little bit of de-risking should help prevent the shareprice from being "crushed".
We all have our own investment strategies, and investment plans in place and I respect that Munger. I too have my own plan.... And that is to hold longer term. In my conversation the other day with the BOD, I have confidence that QNC management will work hard to increase the company market cap and reward shareholders.
You have a great day!
FI4