RE: share price ...25 Mar 2021 23:44
Good points. I think the lesson to learn from this one is to be sceptical about ramping around NASDAQ listings. One of my other big shares is ARB and people on that board are constantly talking about a NASDAQ listing that is expected in the coming months like it is going to boost the share price quite a bit. It won't but as with DDDD, I expect the price to rocket on the announcement and then fall back to where it was.
When I first bought into this share my average was 1.30 and the price soon fell to 1.20. I figured that share price was based on the company's progress because there were a lot of posts and tweets about the company being undervalued compared to its peers. Then along came the pump and dump con artists as we approached NASDAQ listing and I fell for that on the day, buying a fair bit more stock and taking my average to 1.39.
Because of that, I don't feel too comfortable averaging down because I'll have more invested in this stock than I would like. If we retreat to silly levels like 80p I'll consider it because it will take fewer funds to get to 1.20ish but right now I'd have to double my holding just to reach 1.26. I can't put a number on where this stock should be priced, I guess the market will decide over the next week or so as we stop falling. 120-130p looked good a week ago but that seemed to have some early NASDAQ hype priced into it.