RE:Pure irrationalitythrowaway11 wrote: Days like today it's difficult to believe the market will not just simply go straight down to zero. Given the facts, what is going on with this stock makes very little sense.
I remember some months back the CBC published an article speaking of a Chinese plot to destroy or manipulate the stocks of several Canadian rare earths companies. I have come to realize that Neo Performance Materials very well could have some kind of a target on its forehead.
I don't think it's some sort of Chinese plot. Small caps just get annihilated in a rising interest rate/reccession type of environment. Furthermore the $67 million bought deal is now severly underwater and the ones who bought or pushed talked into the stock by their brokers at $15 are now dumping as it drops below $13 and rightly so. The August low is in the $10's; can easily go back there as more of the 4.5 million shares are dumped. This company has a bright future but it is a small cap and therefore high beta. I'm watching closely but will not touch it until it drops below $10. Even the Covid low of $5 is a possibility should rates keep rising.