Its Friday after hours, time for your weekend rumination.
Disclaimer: I am not a swami nor have I played one on TV.
According to my translucent, finger smudged magic 8 ball, this is what I saw happen this week. A number of day traders bailed and sold for different reasons, GNBT for a loss. Perhaps out of fear, liquidity needs, or a better investment opportunity. I believe the majority of day traders decided to hold at their breakeven price point of $.40 - $.45/share. When the pps dipped below .30 an new bunch of day traders bought in and are now selling at the .35 level making a tidy 20% - 25% quickie profit. The day traders now buying at .35ish or did buy at this level are figuring that the GNBT true bottom resistance is still at the .41 - .45 level where all the rest of the day traders are holding.
So even with next week GNBT staying in the “Cone of Silence”, the pps should crawl it way back to the .41 -.45 range.
On the change of seeing our NGIO shares now having a ticker symbol (NUGX) attached to in our broker’s account, I see this as a sudden breeze on a calm sea that momentarily fills our sails in a prelude that the weather is about to change. As I previously posted, I think that March 15th is a significant date, since it is the first business day after 180 days have passed since the Sept 14th S-1 https://www.sec.gov/Archives/edgar/data/18045...-index.htm. So I am thinking that there will be no news until after this date. Then, hopefully, something wonderful.
As for the ticker symbol, I have owned in the past, several activate trading companies that have changed their ticker symbol. A notice that the change would happen was issued, and on that day, trading was suspended, and then your accounted was updated with the new symbol. The only issue came when you tried to do a search using the old symbol. Sometimes it was a dead end, sometimes it went to archived info. Why the ticker is NUGX and not NGIO, I have no idea, but I see no significance. So either NGIO was the place holder ticker or NUGX is. As long as the share count remains the same (though a few additional shares would be welcomed), it doesn’t matter since neither ticker symbol is active for trading.
Happy Ruminating all, but keep it stress free.
Disclaimer: I am not a swami nor have I played one on TV.
According to my translucent, finger smudged magic 8 ball, this is what I saw happen this week. A number of day traders bailed and sold for different reasons, GNBT for a loss. Perhaps out of fear, liquidity needs, or a better investment opportunity. I believe the majority of day traders decided to hold at their breakeven price point of $.40 - $.45/share. When the pps dipped below .30 an new bunch of day traders bought in and are now selling at the .35 level making a tidy 20% - 25% quickie profit. The day traders now buying at .35ish or did buy at this level are figuring that the GNBT true bottom resistance is still at the .41 - .45 level where all the rest of the day traders are holding.
So even with next week GNBT staying in the “Cone of Silence”, the pps should crawl it way back to the .41 -.45 range.
On the change of seeing our NGIO shares now having a ticker symbol (NUGX) attached to in our broker’s account, I see this as a sudden breeze on a calm sea that momentarily fills our sails in a prelude that the weather is about to change. As I previously posted, I think that March 15th is a significant date, since it is the first business day after 180 days have passed since the Sept 14th S-1 https://www.sec.gov/Archives/edgar/data/18045...-index.htm. So I am thinking that there will be no news until after this date. Then, hopefully, something wonderful.
As for the ticker symbol, I have owned in the past, several activate trading companies that have changed their ticker symbol. A notice that the change would happen was issued, and on that day, trading was suspended, and then your accounted was updated with the new symbol. The only issue came when you tried to do a search using the old symbol. Sometimes it was a dead end, sometimes it went to archived info. Why the ticker is NUGX and not NGIO, I have no idea, but I see no significance. So either NGIO was the place holder ticker or NUGX is. As long as the share count remains the same (though a few additional shares would be welcomed), it doesn’t matter since neither ticker symbol is active for trading.
Happy Ruminating all, but keep it stress free.
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