ASC - 8p - 2004 - salutary lesson12 Oct 2020 11:26
To Genuine ODX holders
The first share I bought was ASC in 2004. A lucky trade. It went from 8p to 60 p in a matter of weeks. I sold, thinking I was Warren Buffet, to move onto the next multi-bagger. It did not, of course, work out that way. I had let go a diamond for the price of a piece of coal. I watched ASC creep up to £1 where it stayed for quite a while. Many sold at £1. At once stage the company warehouse burned down and the shares took a dive. But they went back up because the demand for internet shopping was just beginning. The share went, over the course of a decade, to £50 per share (you read that correctly). People kept fretting about the size of the market cap but the demand kept on mounting. It did eventually settle on the other side of the mountain, but £50 a share must be the share equivalent of Everest.
My view on ODX is that at £1 its journey is only just beginning. Like ASC the demand (here and worldwide) is going to be uncontainable. We have the gold standard test(s) and and Covid is not going away any time soon. So for genuine holders, look at the ASC experience. And for shorters and their ilk this must be the riskiest short in the market.
Just my views. DYOR.
May I add my thanks to Merchant Banker, Snowking, Mizman and others for staying positive and informative when the heat was on.
GLA
SMISH