SP13 Nov 2021 10:31
Well it has gone below 7p again to buy and the buyers have started. We have said for a few months that the bottom now is 7p and hopefully we will be proved correct. Probably go to 7.5p then stall again.
Travelling down to Raigmore this week, the lack of traffic on the road, people in Inverness, Raigmore and Wetherspoons reminded me of the lack of RNS,s for Seed.
Eds. 50m comment by end of year should NOT have been said unless he knows it will come about.
Then with his mother selling, did he confirm this by the way? made potential new investors shy away and current holders follow her. But it is not just his mother who sold up there are many medium sized holders who also have been selling by the look of the trades. They have simple had enough. some may have been lucky and bought at 6 - 7p and made a profit while others are taking a small hit on their investment and also getting out. Others will take a big hit or hang on in.
Whilst good news about Leap will help, what we do need is a Newspaper etc. to take a positive view on Seed and point out that for those investing in ITs , like us , that Seed is a diverse IT for those who want a gamble on cannabis which could give a good return especially as the have gaming firm Leap to sell. Unfortunately they have so many choices to look at they will not go very deep in to ITs like SEED.
Leaving us back at square one waiting for LEAP, have the board held on as they think Leap is growing fast and we will get a better price for it by hanging on. If so TELL US. Or and I do not like thinking it, is Leap not so good as we thought. One way or another KEEP US INFORMED. At the worse and Leap fails the other holdings should keep the NAV around 8-9p
We are preparing to buy under 7 to reduce our average even more, but we are investing a lot of pennies in this one IT AIM company, which is unhealthy.
Sellers will pile in at 8-10p thus stopping any big advance even if there is wonderful news. We may even join them and dispose of some of ours in this price range.
Trades by the way were not all sales this week as indicated, as a number just over 7p were more than likely buys.
As we approach 6 years of losing money on seed we still think it may prove beneficial for us with an average of under 8p from 17p initially, as for those with an average over 12p they may have to wait longer to get their investment back.
In the meantime we will be buying in to FSJ once it has settled and adding to our Latin American ITs.