Yep, lesson learnt for me here! When they pulled the first bond issue it should have been a red flag. It did worry me but I didn't act. I could have banked a lost and sold down a bit, not completely out but lower my exposure. I haven't lost as much as some on here but it has still been my worst lost on an investment/trade to date. I got too drawn into the hype, always a bad move and hopefully one I can avoid from now on.
Jesus! £78000! What did original invest? I thought I had got in a bit deep with SXX putting in 6-7% of my funds! But your lost makes my £9k lost seem minor!
Painful lesson, we should have took note of a possible red flag when the bonds were pulled! Got taken in a bit with the hype. LTHs may get something back with a buy out but with the mothballing this may just go under. Any big partner will want this for pennies. Only possible upside, I can see, could come from UK gov stepping in.
Silly to buy more with this news. Everything is back up in the air, there is no plan. Was always risky but I thought that we could have seen 40p quickly once funding got approved, now it is very high risk.
Buffet wasn't talking about Sirius at the time! :P Only buy good companies in bad times! Unless the Gov step in after Brexit (not impossible) this will probably get bought out for pennies. Good prospect but they don't have the funding, and without it, this is a pure gamble. Was a little heavy into it myself (7% of my portfolio) so has been a disappoint day.
''"Buying shares in any company whether they are FTSE 100 or aim listed is just like walking down to the bookies and putting everything on Frankie Dettori in the DERBY. It might look like a winner but strange things happen along the way. Good luck to all those who are waiting for good news and I mean that most sincerely".
naaw, Don't agree with that. When you reseach a footsie 100 (or 350 or aim) company you have far more usable information than you do on the limited knowledge of a few horses or whatever . It is quite simple to pick a basket of good companies from the uk index and buy and hold, occasional re balance and be quids in over the long term.''
i agree. Another problem with the Bookie analogy is that the bookies set the odds, to their benefit. They are no odd setters in the markets. So, even though I think it is a good attitude to understand that 100% of your equity is at risk when you buy a share, nobody knows what return you might get from an investment and you also have the opinion of banking a loss before you lose 100% of your errrrrmmmm... stake! :P
RE: Another Strong Daily Volume Today13 Sep 2019 14:19
6 years! Wow, what opportunity cost! Still, we have all had shares in companies that we have been reluctant to part with, normally because we don't want to bank a loss or miss out on a potential big spike to the upside, which this company certainly has the potential for!
Spike!? How far we have moved from the Aug lows? What drugs are you people taking?
The minor price move today is not a spike! Addressing the 4 week gain, the low was 7.5 on the 12th of Aug, in % terms to today's price this might be considered a big move (if it was it a blue chip) but the range on the 12th was between 9.64 and 7.5 and the price 'spiked' up to 12 on the 13th! With this sort of volatility the current price is hardly worth talking about!
Rant over! :P Sometimes I think reading this board is a bigger waste of my time than normal... *sigh*
As Oliver says, it all depends on your risk appetite. How much have you already invested? What % of your overall portfolio this makes up. There are no guarantees in investing, you make your positions and you don't cry if it goes tits up! I favour the risk to reward in this investment but I suspect that it will be a bumpy ride!
I also found this a bit funny... LTH could still be sitting on a profit and therefore it could be sensible to take some profit off the table (kicking yourself for not taking it earlier) due to the increased risk of not getting funding. I think I may be the brave investor (maybe stupid! :P) who would put his shirt into this! Nice to know that they are looking at next month, although I still think that pulling the bond issue was a mistake and that they are unlikely to get better rates than they had! We will see.
Hmmm... strange thinking people! I already topped up a little at 9p but I am currently selling some other positions to load up when this hits 6p! :P Was it Buffett that said to learn to love falling prices?!
As someone who would like a bigger position at a lower price, I'm keeping my fingers crossed that the shorters keep on shorting and the FT write lots more articles on how high risk this project is! Once the bonds are sold I think main financial risks will be pass us. Yes there are still risks something could go wrong in the construction, etc, but this is in the UK and I believe these risk are low, far lower than the price is showing! So, hopefully the price weakness will continue and hit my target! Then a large part of my investment will be parked here for many years to come!