I buy based on assets and a probabilistic level of progress. Best not to listen too much to what a company says they will achieve. No company will out perform their ambitions and few will match them. Most think big and are happy to under perform if the eventual outcome is good enough.
The current level of progress has always been a scenario with a reasonably high likelihood of occurring. Scenarios to make the company worth 20p or more were far less likely as that infamous interview with PL made clear.
Probe time to offer a theory. My guess is that the sp is so low because people keep selling.
I know bare with me here guys, but in my mind many of the brightest and best among us bought at 15-20p and now they feel a bit foolish and they want this big hulking mistake to go away so they sell. Then as people sell the sp goes down so others think chucks its even worse now I better sell too.
So it goes down further as the fewer contrarians (ie not sheep) can't keep up with the selling without a price drop.
Its just tulips in reverse... yes tulips are nice but I wouldn't swap a house for them and yes all has not gone to plan here but its not quite time to find a high bridge yet.
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