Food for thought7 May 2020 13:07
I sold at 170p today, i contemplated keeping them but something just doesnt sit easy with me. I've mentioned my thoughts and everyone is entitled to an opinion. Feel free to read my posts on GDR, and i will happily send contract notes to anyone who doesnt believe i had a holding.
I've been saying for two days a drop was coming, I thought 10-15% can be absorbed by whats coming...but i just couldnt see a drop this big, it was at 300p at one point, today its at 155p ish.
Yesterday the pattern that is emerging today happened, see yourself in the charts and it finished lower. I dont think an RNS will be out today, not before folks get their new shares.
The long term 3-6 month view will be that it is hoped the price will recover and people get their money back, the short term issue is that IF it traces back to 120p and even if the news comes out about a market ready product ready to sell, and it goes up by 100%, where are you going to be at? the same as your buying in price pre RNS.
Thats my take on it anyway. If you have loads of cash spare keep the shares, if you bought on the hype i would look to get out.
Just my opinion before anyone shoots me down, and for the record that last two days trends post RNS support this view. It would be stupid to keep shares purchased at 230p if the daily trend is down over consecutive days.