Oversold with an artificial capThis stock is once again oversold and fighting an artificial cap on low volume. Someone is trying to hold WED at ~$3 IMO, but why?
The insiders have put up millions of dollars of their own cash to buy common shares and are still buying, so obviously, they are confident they will see a worthwhile ROI.
Smart money continues to cross blocks at this level for whatever reason. Anyone taking a decent/major position does so "at market," yet, anytime buying pressure starts to build too much, "anonymous" dumps into it to extinguish any potential run. Why?
The bashers here seem to think--or want this board's readers to think--that this is dead money until the latter half of 2005, as if there won't be a spec run up as the pilot plant nears completion and as though the book value and future news flow from Nucryst doesn't affect the PPS.
Honestly, I'm having a difficult time figuring out if we're being capped to flush out the weak hands at a lower price once the good news starts to flow and the PPS starts to climb, or if someone is going to try to take WED out in one fell swoop at the appropriate time.
Either way, I'm quite confident in this investment, so I'll continue to add to my position as this game is played out--and like some posters here, I think it will all unfold "overnight" someday--but sooner than most people think.
Good luck all.