Member Info for HarChris

What carnage has it caused?

I've been increasingly interested in BMN and building my holding slowly over the past few months. I'm mainly in now for the VRFB narrative and am trying to position myself ready for that to (hopefully) blow up in 2021. My question to those who are uber bullish and put out £1 targets by the end of the year etc, what news are you expecting in the next few months to break BMN out of this share price range of 15-20p? I know one obvious thing is the vanadium price continuing to rise but that could be deemed a negative too... I assume increasing media attention on VFRBs will help but I'm just wondering what actual news are you expecting by the summer that would shift this up a few gears?

Remember this: fundamentally what matters is a) the price of bitcoin and b) the strategic moves and execution by Argo. In between that the share price will move wildly depending on momentum and sentiment. If you're holding long term and not in anyway a trader then you need not focus on the last part and just focus on a and b.

I sold out at 205 and then bought back half my holding at 197 on the bell. Barely worth it for seven hundred quid cheaper but hey. I'm not convinced the bottom is in yet but i'll be focusing on the first two points and if both continue to look positive and the share price falls even further I'll buy back my entire holding (and some).

I sold 5 minutes ago. Why you ask? Because this company is majority owned by panicky PIs like Tiger who en masse could send this lower and lower. I'm watching from the sidelines and hope I get a nice reentry but if I don't so be it :(

Herdie, imo there is a slight fear that bitcoin is due a correction. As I've been saying these miners don't benefit from today's bitcoin price, they benefit when they decide to sell their coins. If bitcoin goes on to surge and break $75k and beyond then the miners will go crazy, but right now these small increases aren't overly bullish...

Why is it comparisons only seem to be made on here when the other miners are doing better than us?

This BB isn't full of the most intelligent of individuals that's for sure, Ray!

It is human nature to start creating conspiracies and speculation when things don't go as planned. IF bitcoin had continued surging (no not rising but surging) and had broken $100k by now Arb would without doubt be £4+ a share, possibly £6+ and not a single word would have been said about the dilution or the director sells.

As it happens bitcoin cooled off a bit following the exponential growth last year and at the start of this year and that's had the effect of taking the excitement and FOMO out of this stock more than anything else.

LOL no $100k is not priced in. It would be if $100k was a certainty but it isn't.

Ultra, no need to be ashamed, you won't be the only one to have done the same yesterday. I hope you live to regret it though!

Loads of us have given an explanation over the the past 24 hours or at least our interpretation of it, Funky Finance has put out a video discussing it etc. It's you that keeps posting about how unexplainable it is time and time and time again and boring us with your panicky posts.

I assume you sold then and are looking to buy back now? Otherwise your pointless unactioned negativity is doing no good.

Xenor exactly. People generally understand FOMO buying (leading to overbought territory) but they don't grasp the opposite. Sometimes it takes only a small catalyst for a 1% decline to turn into a 10% fall.

Phoebus I agree with you but don't use revenu, use profit. Our margins are excellent though so your numbers only need to be revised down around 20%.

We could really do with bitcoin going ballistic this week though!

There are no hedge funds with a declared short position over 0.5% but I think someone earlier posted short data which showed significant recent shorting. These shorters whether individuals or organisations will close as soon as either a) they think all the sellers are flushed out or b) the bitcoin price makes it impossible to hold down any longer.

Just a theory but it's often the reason a share is underperforming in the very short term.

Xenor, plenty of us have given our thoughts on why this has fallen today, you just aren't listening.

My opinion is that the opportunity for a coordinated short attack presented itself. After such a dramatic rise and with a major shareholder selling down it was a good opportunity to go at a stock that is largely owned by PIs sitting on a significant profit. A falling share price will always spook PIs sitting on profits and slowly more and more will panic and sell.

As I said before, I think we've been extremely lucky that bitcoin has performed so strongly or the share price might have collapsed in on itself as more and more begun questioning if there's something 'suspicious' going on. We are at least fortunate to have a CEO who is willing to subtly alleviate those fears with his 'tranquillo' tweet.

Guaranteed reversal Jcreek as long as bitcoin holds up/pushes on Not sure if we're talking 240, 260 or 280 but definite reversal.

This tweet (about ncyt in this instance) sums up the effect endless panicky comments on sites like this can create. It is so so easy to see where a heavily PI owned share price will go from mood alone https://twitter.com/TaylorQuant/status/1381999696328163331

I said before naked shorts are the most likely reason for the fall in share price. Argo is majority PI owned. When shorters get wind of a seller they know full well that a declining share price leads to panic and will take full advantage by shorting it to death. As it happens bitcoin has continued to rise limiting the damage the shorting can do. If bitcoin had fallen this week I imagine the share price would have crashed significantly into the 190s or lower. In that sense we are rather fortunate and do need bitcoin to stay up here for another day or two til the panicked sellers are flushed out and the snapback occurs.

Ps Peter Wall just liked my tweet saying something along these lines.