I wouldn't suggest that would be a good idea. I think there is a lot of froth to be blown from the top of this before any buying resumes. From what I can tell it's done over 100% on fresh air and needs cash for working capital. I don't think they can raise funds at these prices as it would look like a professional job of getting the price up before presenting the begging bowl. Things have changed since December and the market at any given day will be marked down as a whole.
I have looked over the last published accounts and it looks like they had enough working capital to tide them over the second half of 2015. Does anyone expect a further placing over the next few weeks for further working capital? With a Loss for the first 6 months running at -£0.52m in the last set of accounts and a mention of funds raised at 6.5p last time round, what would be a reasonable price?
Anyone who has read "THE NAKED TRADER" ( my investment bible) will know that quite a few investors set a Stop loss. The Market Makers. That should read Manipulators, know this and now and again have a "Tree Shake" setting the Start price low to activate the stop losses which in turn activates more stop losses until there are no more left. The MMs then have lots of shares to sell and so the price goes up again. Very lucrative for the MMs and nothing we can do about it.
Personally l think that patience and confidence are needed for this share. All the "Fundamentals" are in place and the potential is HUGE!
I am in for the LONG HAUL - 2 years + . We shall see.
I would like to wish all PINN holders a Happy and Prosperous New Year.
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