RE:VergatarioDirksidetrack, whatever language explains it best, the factors that can most reasonably be attributed to the current downtrend have been previously expressed. To highlight a few:
1. The Rights Offering being listed below the market rate at the time and incetivising FEC primarily;
2. The offselling by a key stakeholder and insider, ie CGX's CFO following the RO; and
3. Present investor sentiment to the current share price and volatility.
There is no crystal ball to this and hindsight is always 20/20. Would anyone have foresaw the above events, they would be gloating about how they called it on youtube with elaborate trendline graphs, etc. As you are well aware, this is not a meme stock but an oil stock with no proven reserves at present but a committed drilling program underway.
As has been stated previously we are dealing with a wildcat well being drilled by a company that has weathered multiple storms of varying intensity. How they have survived is a bittersweet miracle and those of us that have stuck it out have developed a very strong stomach lining. The make or break point will come once results are released. What the share price does till then is just the market acting according to the speculation of the chances of a hit and opprotunistic trades.
In my opinion there is nothinf CGX can do to assist. The best CGX could do at present is wait out the drill, because their previous two attempts at stimulating investor confidence (ie the news relase re: VP of Devlopment and the closing of the RO) was a flop for the former and expected for the latter. If anything the company needs a better investor relations representative and marketing startegy. How many times have we seen Dr Narine on BNN or similar promoting CGX? What about De'Alba? Like has been pointed out, the present management has shortcomings that need to be shored up but the fundamental facts are there is a well underway that has financing to complete.
Only news of a hit or promising oil/gas shows will be the flash needed to kick the downtrend.