LarryBird wrote: Good to hear from you Monty. I thought you changed your name to nextLeg lol
you're correct, I don't know if any institutions have bought in recently. But last I checked the stock had absolutely zero interest from institutional investors.
Li Ka Shing is a different story. I understand how promoters try to use his name to get people excited and there is nothing wrong with that but here is my point of view on his involvement;
he has 100's of similar investments. His cost base is probably at max 8 cents and the fact that he was a shareholder and the stock went from $9 to $2.5 tells me that his involvement won't be of any support at these levels for investors like myself. However as you said for sure a good thing that his name is associated with this company. However let's not forget he is invested in many companies that have dropped in value even more than WELL. He probably doesn't even know what WELL is lol
On insider sales, you can use that logic on CEO's "big dump was for tax reasons" for people like NoShorts. Just like the idea of NCIB by WELL. ( poor guy was so buying that whole promo until WELL itself came out with a raise as he thought there was a share buyback. Lol ) But I'm not a new investor. I know that there is no way CEO accepted to move that many shares outside his control for tax reasons. In capital markets, those shares are considered sold the minute they are no longer under reporting requirements. He himself would know the optics of it and no one in their right mind would do tax planning ( family trust ) at these prices when his cost is at max 10 cents. Also it's not his first public Co so unless you can show me that he paid full PERSONAL cap gains without use of his lifetime Cap gains exceptions on previous deals or that he literally just decided to do proper tax planning at this stage in his life ... I'm not buying it. He had two very huge failures with BBTV and HIRE and my guess is that he had to sell those WELL shares. Lots of talk in out in Vancouver about BBTV getting sued for fraud so maybe he had to lawyer up and needed to be liquid!
like i said before, ability of WELL to maintain the stock at the current levels ( for sure they are running a promotion now ) is the only way to see if there is institutional support. We can joke and argue all day but me, Budd or NoShort's tree planting wealth is not going to move this stock. It's funds that move the stock.
good luck to everyone. I'm obviously interested in this stock as I think ceo is will sell the company and I'm waiting for my entry point. Meanwhile other sectors, mainly energy and mining have done very well so by no means am I tempted to jump into a COVID stock unless I see real momentum.
I'm off to Happy Hour... let's hope Powell doesn't ruin the buzz tomorrow !