Post by
rborhi on Dec 16, 2008 1:38pm
Big dump of shares today
Volume almost 5 million shares today, and a whole lot dumped at 0.01, taking the market cap down to 2.5 Million.
The last financing at 1 million $ is now almost half the market cap! This has got to be a good deal for a diamond company that actually produces and has good prospects in Brazil. I think this stock has been beaten down too much, but watch for more dumping this week for people looking for tax loss, or investment funds wanting the shares off their books for year end.
Even if they consolidate the shares, the market cap is bare bones at these levels and once they start operating again, or the economy shows signs of life, watch for a rebound.
All mining and oil companies seem to be pulling back development and delaying operations right now, which will cause shortage of supply and lead to higher prices for resources again.
Comment by
ranmyl on Dec 16, 2008 4:22pm
I just sold my VAA as a tax loss, and I almost consider it a victory getting 1.5c. I don't see diamonds as leaders in the rebound but I will closely watch this stock and may jump in again.
Comment by
stocky80 on Dec 16, 2008 9:14pm
I picked up a lot of the shares that were dumped at 1 cent today. I can't believe anyone would sell at that price. VAA will be back to 4+ cents within weeks.
Comment by
ranmyl on Dec 17, 2008 11:57am
Four weeks would suit me.......