RE:$$ a total blindside if this goes through 😩😩😩
cottagetime wrote: Blindside yes , with Fire having such great success and selling out in their weed product and making money , I was looking forward like most investors to see the Fire stock increase in value to about $2.00 or higher . Instead it looked like it was being kept low for the purpose of this buy out which I think is a very shi$y deal for the old investors hope it fails and Fire soars above $2.00
Yay, let's work hard at making this deal fall through. I'd love to be back to being over six figure under water again, so I can silence the morons who think I was bitter because I was an underwater long. Im actually only 5 cents away from breaking even. Not bad at all!
But, my principle in life is about fairness. I listened to Beena's podcast repeatedly and she said, without scruple, that the cash raised was for growing the company. Was I to blame for my levity? I don't think so. Part of doing your DD is to understand management, their credentials, track record etc. This has a huge influence on my decision whether or not to invest in a company. And so to say I was credulous to fall for this woman's sales pitch is myopic.
I raised a question before in a thread I started entitled "accumulating shares without moving the needle on share price". I wondered at that time how so many millions of shares of Supreme traded without moving the share price. This reminded me of Inter Pipe Line, the stock I followed at that time. For months, no change in share price. Then one morning Brookfield sticked its head out and announced that they owned 20% of the company. They placed a bid for $18, with a possibility for negotiations. Share price jumped from $11 to almost $19. That's over 70% premium.
You know what? The deal fell through. It got voted DOWN. Why? Because shareholders think they're worth more.
This goes to show that you can't just throw any number you pull out of thin air in our faces and think you're doing us charity, when in fact you're raping us.