Novo Resources Corp T.NVO

Crazy Week for NVO

[AlwaysLong683]

Large, wild swings in the share price this week suggest there was a lot of speculation, day-trading, and shorter-participation in this stock this week:

Closed last Friday at 0.66.

Two press release updates on Tuesday.

After the last four trading sessions ended in double-digit price swings, the bottom line is NVO closed today at 0.53 for a one-week loss of 19.7%.

So, is this stock an even bigger bargain than it was before, or is it going lower? My guess is the latter.

[ValuePro]

I'm long, so no worries from me either way.  If it goes up, I will smile and continue watching.  If it goes lower, I will continue buying, as I did in the middle of the week.  I did that because I judged that the knee-jerk selling took the capitalized value below assets plus receivables.  Buying under such conditions always spells S-M-A-R-T  M-O-V-E, in my opinion

[AlwaysLong683]

...provided there are no future writedowns of those assets. Assets are only worth what someone else is willing to pay for them at any given point in time, either via the company's share price or what the company can get for such assets if the company wants / needs to sell them. Thus, Price-to-Book is the most over-rated metric upon which to value a company IMO. I remember people using a

[Buccster]

This post has been removed in accordance with Community Policy

[ValuePro]

"...provided there are no future writedowns of those assets." How about "providing the sun rises in the east." I've had enough.  On ignore your go (where you have probably gone before under different aliases). [CLICK!]

[PulpCutter]

FFS.  Bears have been nearly dead-on, with projections on how the BC operations were going to progress. The biggest 'miss'? Bears thought BC would go on care & maintenance around Christmas.  Wow. We were off by five months.  Only effect was Novo lost more money than they would have if they'd "paused" (LMAO) at end of 2021.

[AlwaysLong683]

I guess I'm now on ValuePro's ignore list, but did he just admit that there will be future asset writedowns at NVO just as surely as "the "sun rises in the east"? So, if I've got this straight, he's bullish on NVO and feels their assets are undervalued, yet also believes at least some of those assets will be subject to writedowns....? If so, he's seems to be

[HeinrikVonSplit]

This post has been removed in accordance with Community Policy

[AlwaysLong683]

Sorry, my mistake. He appears to be guaranteeing there will be no future writedowns. Hope he remains actrive in posting on this BB for another couple of years -  I sense some crow is being prepared as we speak for him to eat........