New Found Gold Corp V.NFG

Oversold?

[Mugsybee]

I understand the dilution effect given the sale of stock  but NFG only sold 0.5% of company equity. Selling off 14% seems a tad draconian.

[Evenkeel123]

It's called market sentiment.  The longs call it a buying opp, lol.  I bet if NFG put a stick a dynamite in their hands, they would simply call it a hot deal, lol.  This drop is not over.  Today is just day 1. EK

[wajac]

Mr Doom makes his appearance again! Yeah, yeah, yeah everyone understands how it works. No schooling necessary.

[Stocks2Go]

Agree with you in that this is an over reaction.  We traded over $6.00 only a couple of days ago.  I added this morning. 

[Gangsterme]

Maybe my math needs upgrading, more like 5%. And, yes dilution but they sold the new shares for more than the listed price, so yes dilution but the shares were sold not given away.  People do not seem to understand what transpired. Without addition money all exploration would have stopped in less tha 6 months likely. How else were they to raise money? Only way I can see is sell shares

[Mugsybee]

My math is based on $50million on a $1billion dollar mkt cap = 0.5%

[Mugsybee]

Yeah. Late night early morning...I see what I did there

[Gangsterme]

Since when? 50$million on a 1000$million cap is 5%. Last time I checked.

[Mugsybee]

Thats what I was getting at. My mistake

[bull_runz]

Did anyone check what the insiders are doing?  Plus, the Short Position?

[Spikearoo1]

Yup I bought more today too...5,000 shares added.  Honestly can't understand the mentality of people out there...if they raise more money and do more drilling and find more gold, especially deeper, will this not add value to the project therefore justifing the capital raise?   Anyhow, I'm sure Eric Sprott will be buying into the capital raise too.  Bottom line is that

[bull_runz]

This is where experience matters :)

[Retiredgeo]

It's not about dilution.  Whomever ends with these shares isn't going to want them and they can ditch them for approximately the current price.  Until these shares are sold and bought up NFG's share price is going to be artificially depressed. We saw it all last December.  You can peruse the historical record for how long all of this will last.  This is the second