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After dumping my 2k investment in this last year, I went in with a smaller investment early this year. Well last week, I dumped my last 500k shares and looking at this today, I'm happy I did.
The fundamentals of this company shows, it's a dead horse.
I work for a tech startup. It was founded in Feb 2014 and launched the product in August 2014. Today we're valued at $10bn. What I learned there was that in the tech business, velocity is everything, followed by pipeline. If you don't have a pipe, you don't have sales and you definitely don't have accurate forecasts. You can't be waiting two years to launch.
This company clearly lacks leadership and more importantly, experienced leadership.
People will hate me for this, especially since I've been lurking in the background. But call it what this is; a good idea with terrible execution and therefore a dead horse. The SP and the fundamental numbers back that up.
I wrote it off from my portfolio too. Posted here last week and some thought it wise to say "well if you wrote it off, why bother posting" or something to that effect.
Anyway, if it comes back, then good. If not, well, another lesson learned to trust the fundamentals, which in this company's case are weak at the moment. As I said in my post last week, the city works on fundamentals, not dreams and aspirations.
I never said I wrote the "share" off, I said I "mentally" wrote the money off even though, like everyone else, I hope this opens up again. There's a difference here.
Thanks, @LondonInvestor. I have no doubt that people make investment decisions based on this board, but is there enough volume on this board to drive the price significantly? I'm sceptical about that. I'm not referring to an extraordinary situation like we have/had with Game Stop, where a forum collectively crowdfunds a spike in a price. That I do understand.
I've been in SYME since about June last year. Not heavily, at around £2k. If I'm honest with myself, I think it's fair to say that this smells very much like BHR (Beacon Hill Resources). Months of RNSs about project development, hyping on boards like this, people talking about ramping and deramping blah blah blah. I bought BHR at around 0.35p back then. RNS after RNS, weeks turned into months, months turned into years and one day, bam company is gone.
If my £2k is lost here, I obviously have no one to blame but myself. What I don't understand (and I need to be educated on this, honestly), is that it seems that some people genuinely believe that boards like this actually drive the share price. I've been in many shares for many years, and while I do look on boards like this to get a general sense of optimism (although it takes a good mental filter to filter posts which are, to put it nicely, overly ambitious), I don't make investment decisions about what people write here. I also tend to stay out of the conversation as general manners don't seem to exist for some on this board. I suspect some replies to this post will prove that point.
I don't want a fight or argument, but here's the issue I have now. I knew the fundamentals for SYME are weak, but I still took a gamble, and a relatively small one of £2k and I've mentally written it off. If a share is priced at .5p, believe me, it's not priced there because of this board. It's priced there because of fundamentals and maybe the occasional RNS with good news. I've always expected this to stay sub 1p until a profitable annual statement arrives.
And for those who confuse company fundamentals with "plans, hopes, dreams and aspirations" outlined in an RNS, well you really have to wake up and smell the coffee. The city works on fundamentals, not dreams. That's why we were at .5p. And I'm afraid, as I've been here with BHR before, I wasn't in the least bit surprised at the suspension, but I'm now starting to get concerned that my cash would have been better off in Bitcoin.
Just my 2 cents. If you don't agree, ignore it. No need for nasty comments.
Reading this chat board is like watching an episode of Only Fools and Horse... "This time next year, we'll be millionaires".
Just smashed through the .40 floor to .39. We're in free fall for now. The graph is nearly vertical since 8am, downwards
First, post here, but been lurking for months. I tend to ignore most of what is said here, so I don't generally reply. However, I made a rookie mistake this morning. Had an open buy order before market opened. II only executed it 5 min later at 0.54p. Note to self. Don't place pre-open orders.