Whatever is happening now....Is pretty much normal folks. The main culprits for shorting this stock have more or less covered and are OUT, the risidual shorting that remains and which is taking place now is sector wide AND NOT only isolated to DMG. Plesse keep this in mind people, before you make a decision to sell at the bottom here. I know it's frustrating to see & experience but don't not do blame yourself for what i think WAS a GOOD investment decision with a totally emotional, knee jerk reaction to rid yourslef of this position at these insane levels. NOW ISNT THE TIME TO DO THIS. If you need to vent, do it by sending an appropriate emai to IR to explain your worries & frustration regarding HOW mgmt failed their fiduciary duties......not be pushing the sell button now.
Honestly folks, this was to be expected. Like i explained in the past (please refer to tbeornot posts on the DMGI YH board), the mild selling which continues to bring the stock downward is comprised on three important factors. The first, are the instiutions who continue to go long Bitcoin and short the miners, this normal and expected in sectors like these. The second, is the following which was explained in another post here and a direct consequence of the awfully handled PP in Arpil. Please read the folowing excerpt from my post titlted "New beginning, New outlook".
"What were the bottomline consequences for the company by initiating the April 29 PP with HCW? There are many but only list the important ones. The first most obvious one was a short term side effect, an unwanted and probably something the company didn't fully think through. By getting into an equity raise so low and artificially pressuring the stock to levels that probably would be there under normal circumstances, you create an environment where you attract "certain" investors (if you want to call them that) you might not want in your stock. These are short term players like daytraders, swing traders, penny flippers and most imporantly the increased presence of market makers using their influence to play arbitrage. In the short to med term all these folks will bog down any upward movement in the stock when it eventually recovers."
The third factor, being buying support or the complete lack of it here, would normally be enough to absorb factor number one, which the long Bitcoin/Short miners play to stablize the stock. But unfortunately, with the bad timing of PP, the drips in Bitcoin and overwhelming selling of factor number two which is specific to ONLY DMG isn't enough to hold the stock and keep it stable, so downward momentum is the only way to go. I hope some people understand some of the mechanis of what is taking place and are more informed before they make a decision they might regret in a few weeks.
In all honesty, if the company's mgmt were competent enough, transparent enough and had done things the right way, this stock would have NEVER reached these levels under normal circumstances. But due to either bad decision making or suspicious behavior or a little of both we are unfortunately here now. What should be taking place around $2 CDN is now happening at more at less than half of that, this should have NEVER gone below $2. The only comfort i can provide is by saying, have patience & hold strong for now, there will be a time to dump this at some point in the future......now is not THAT time. When the trend reverses and the selling dies down enough for the buying demand to overtake it, will be when the stock recovers. And with Bitcoin heading to 100K soon, it will bring back many investors who had lost faith & sold out, back into these sotcks...... DMG included.
I don't approve or condone what DMG mgmt has done, i hope that 's clear it was a complete d move and i'm not defending or justifing what is taking place. BUTdon't let a really bad decision by company mgmt be compounded by another one you might make by selling here.