Post by
Shylockreturns on Mar 22, 2021 10:54pm
Those wisely opposing the reverse split idea
are all correct in their comments.
I also believe that were this possibility not hanging over the head of ELY Gold Royalties the price would be substantially higher than it is now.
The status of the NY exchanges remains tenuous, propped up by phony money being pumped into the like of the FAANG and a handful of other stocks (TSLA comes to mind) and exposing ELY to the massive crash of the NYSE which is IMO written in stone and coming soon, although I cannot tell exactly when is unwise and out of character to Trey's otherwise excellent management.
Trey, we know you read our scribblings here on this board so please take note of our conjoint opinion, backed by many years of history of what happens to junior gold explorers when reverse splits are carried out, to wit, the company share price simply falls from a higher level while the market cap drops correspondingly. If you do some research into this, you will find that some 97% of all such companies pulling off reverse splits not only do not prosper but are severely damaged and see a vigorous exit of capital as shareholders leave en masse to preserve their funds. It is not a pretty sight.
Personally, I have been involved in two such reverse splits years ago before I knew better and foolishly held on the "promise" of management that the share price "in time" would show the splits to be wise. Well, they were not and the market cap and share prices plummeted. They NEVER recovered.
I will never do that again. NEVER.
It is possible ELY could be in the 3% of stocks which not only survive but prosper but how many are willing to take the risk in financially unstable days like these?
You have to this point been a stalwart captain of the Good Ship ELY.
Please do NOT mess it up now.
Comment by
OnWatch on Mar 23, 2021 12:36am
This post has been removed in accordance with Community Policy
Comment by
LowtoHigh on Mar 23, 2021 6:08pm
@shylock, I am confused now. I could have sworn your earlier comments on the reverse split were in favour of it. Did you recently change your mind?
Comment by
Shylockreturns on Mar 23, 2021 7:47pm
LoHi - You are in error. I have never been in favor of a reverse split for this stock or any other. Read all my posts and you will see. Reverse splits = death!
Comment by
theman0 on Mar 25, 2021 10:25am
You are absolutely correct! Where did this talk of a reverse split come from anyways?
Comment by
OnWatch on Mar 25, 2021 12:05pm
This post has been removed in accordance with Community Policy