Like so many here I'm thinking of averaging down.
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Posted On: 04/07/2019 2:24:34 PM
Like so many here I'm thinking of averaging down. My problem is not seeing enough about what the company's intentions are. If they fight for, and get an open check where they can do a R/S with virtually no limitation on how severe, I don't believe I can average down enough to be profitable for many years, if ever, so I see it as putting bad money after good. On the other hand, if I see a program that supports current shareholders by maintaining their ownership of the company at 10% or more of the authorized shares, then I could get behind their efforts.
There is a huge difference between a 1 for 100 or worse that would take the O/S down to millions or less and a 1 for 2 or 3 that would bring the O/S down to 50 to 75 million shares vs 500 million authorized. I cannot see making another move until I know the intentions of the company. At this point the shares are so low I cannot see selling, but I won't buy more until I have a believe they won't be going substantially lower. I firmly believe that if they do a 1 for 100 or worse reverse split, it won't be long before I'd be able to purchase the new shares for roughly a dollar or less, i.e. 1 cent a share or less based on todays price. If I wish to average down, I'll do so later. On the other hand if something better is proposed, I could see the share price back in double digits shortly. Until I know more, I'll do nothing.
Gary
There is a huge difference between a 1 for 100 or worse that would take the O/S down to millions or less and a 1 for 2 or 3 that would bring the O/S down to 50 to 75 million shares vs 500 million authorized. I cannot see making another move until I know the intentions of the company. At this point the shares are so low I cannot see selling, but I won't buy more until I have a believe they won't be going substantially lower. I firmly believe that if they do a 1 for 100 or worse reverse split, it won't be long before I'd be able to purchase the new shares for roughly a dollar or less, i.e. 1 cent a share or less based on todays price. If I wish to average down, I'll do so later. On the other hand if something better is proposed, I could see the share price back in double digits shortly. Until I know more, I'll do nothing.
Gary
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