Post by Ochterloneyon Jul 14, 2022 4:51pm
199 Views
Post# 34825275
I applaud your wisdom, but...
I applaud your wisdom, but...
Some people suggest that averaging down is not a good approach (though it seemed to work for you).
When a company lists on a stock exchange they agree to be trasparent (sec rules) and to try and make money for the stakeholders. In my opinion, these guys are doing neither and are more like a university research team parading research success (others research success) but they don't indicate how much equity Cult owns of the investee and thus the shareholders don't know what the success of the company is in investing terms.
I am trying to get them to change their focus and act like a normal public company.
I had $20,000 invested in this company and it is now worth less than $1,000, hardly worth selling. I am sure there are others who have lost a lot more. However, the initial shareholders probably paid less than a cent for the shares and sold a lot at the top of the share price and then issued themselves more options and warrants. That is how the game is played and I can accept that but at least most public companies issue financial information and act like an operating company and that is why I keep asking for a business man to be put in charge. Yes, I do know there is a massive market drop but they dropped before that started.
I apologize for being negative but I think I am only dealing in facts and from my point of view (and the market's) the facts I know about are negative. I will be more than happy to congratulate them when it is appropriate. Good luck to all..