A fool and his money....16 Apr 2021 00:14
I sold all my stake earlier this week and these are my reasons why:
I did a bit of research into Onassis holdings and am very concerned about basic spelling errors on the homepage like you would find on a scam email. Do a bit of research yourself, it’s scary.
The recent RNS had very low expectations. The aim of 125% of 7c sounds high, they’re aiming for a price of just over 8c. This is lower than what has been achieved in Feb/Mar this year. The goal for 2 years of 150% has also been close to being surpassed recently. It’s not a gain of 150% but an increase of 50% from a low level.
The recent presentation looked like it was produced by teenagers. I could write about 20 points here but can’t be bothered. These include that Artemis figures were absent.
The RNS about 85% increase in initial order was technically correct but designed, in my opinion, to mislead.
The small print at the end of the presentation is well worth reading.
I looked up the U.K. headquarters address. On Google it says ‘permanently closed’. At this point I immediately sold and made the biggest loss I’ve ever made in shares, nearly 50%. However, I still have over 50% of my gamble.
I’m not advising anyone to do anything, just telling my story. I thought this company had real potential. A fool and his money are soon parted. Luckily, because I didn’t put in more than I could afford to lose and also bought other shares I’m only down by about 5% of my total value in shares. I also made over 100% profit last year, so still up.