Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.
So what your saying is... I can now buy these shares on the open market for 5.16p or buy them at the hugely discounted price of 5p for what is now a very high risk to reward stock? I'm not buying anymore of this until they're a 10 million mcap and breaking even. What a joke
At the moment the price is just manipulated, if you look at today for example you have lots of selling and then occasionally someone will buy less than 10 to try to raise the price a little because of how illiquid it is. (worth noting that if someone's going to buy 7 shares then their broker fees are more likely to cost more). I suspect on final earnings it's going to dump like a lead brick.
You can always hedge, just find another stock that's been battered recently but with more reliable fundamentals. There are even blue chips like Netflix that are 72% down but a safer bet. Not financial advice (or even advising on Netflix), just saying when battered with stock you can hedge by replacing part of your stack with another battered stock.
On their last investor conference they clearly communicated they had enough cash until Q2 2023 even without growth. They are expected to break even Q1 2023 which is why I'm dollar cost averaging now whilst it's still cheap.
Keep dropping lol. I am going to keep dollar cost averaging and they will be profitable in just a year. People are fickle and want everything now. You won't be buying these shares for under £3 Jan 2023, or £10 when they do divs in 5 years.
Best to probably swap it for lottery tickets at this point. No new investors are going to touch this with a barge pole so the price is very unlikely to recover.
I think they'll release the results after the meeting. I think it's positive that they're doing it on a Thursday as if it was bad results I think they'd do it on the Friday at 4:30pm lol. Plenty of time for buyers Friday.
You've gotta ask yourself, who's going to look at this with a fresh pair of eyes and say it's a good buy, the risk to reward is terrible.
As previously commented on, the chart looks great, big green engulfing candle on the daily, and on the 4hr chart it has been bouncing between about 245 and 290 for the past two weeks. We may get a solid breakout tomorrow or within a week.