The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Maybe I should rephrase what I said as I do believe it will see the 20s again at some point if the new guy succeeds in his turn around. It will just be a long road ahead. I'm thinking more short term currently. I don't see 20p from the upcoming bounce, and probably not in the next 6 months either.
Indeed RogueRiver. A lot of my failed investments over the past few years have one thing in common. They all start out with this huge drop in share price that makes it look cheap. You buy in, price goes up a bit and you feel good so you add more. Then the price drops and keeps dropping below your first buy price. Then it becomes a question of breaking even rather than making any profits.
I have learned that these shares aren't cheap, they have dropped for a reason and that's their new value. With that said, this is due a bounce soon but those expecting to see 20s again are dreaming.
This is like the summer drop from 20p where it plummeted and then drifted even lower and only ever recovered back to the point of the initial plummet. I think it will continue drifting lower for another month or so before rallying back to 16p. That's the trade here. I want 20% out of it at least so I won't be considering a buy before low 13s.
I looked at the criteria for UKEF Export Development Guarantee a year ago and concluded that we qualify on the M55 contract alone. We have also won several other export contracts since, including the huge Sea Rosw contract which again is enough to qualify us on our own. I would have sold my shares if I thought we may not qualify for the guarantee.
As per the parliament question, the money does not have strict usage terms. Those saying we need to pay the debt off in order to get a loan are simply spreading FUD. We wouldn't need 200m at that point. My bank doesn't make me pay my mortgage off before they allow me to remortgage.
The agenda here is clear. Keep spreading FUD to drive people to sell their shares at these lows, eventually close short. Seems to be working but I suspect their greediness will get the better of them and the finance will be announced before they close their shorts.
B, wanting better communication from the BOD doesn't mean that I am impatient on finance. I know that's a matter of when not if. Timing largely out of their control since it involves multiple third parties, which is why the repeated time estimates last year made no sense.
12p here is a low, not the 52 week low but certainly not far off. It may well drift if finance drags into April or it may bag on the news. There's also the matter of IM which we expect a result on in the near future. Exciting time if you're comfortable that finance is coming, which I take it you're not given your sell.
Agreed MayAnya. Communication from the BOD has been dreadful and as shareholders we should be pushing for better and more frequent updates. But behind the scenes they are getting on with it and winning contracts which is ultimately what we want. I assume they are very busy with getting the finance over the line right now and that's their priority. Share price will look after itself once that's done.