SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : Sungold Gaming International (SGGNF)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: netman who wrote (72)1/22/1997 11:19:00 PM
From: Mayer Tchelebon   of 5164
 
A company cannot just "release" more shares, unless you mean the insiders are selling their personal shares.

The shorts are actually using these down days to cover their position, which, not only allows them to realize a hefty profit, but they will now be able to short again at $15-16 and repeat the process anew.

It appears to me that the last two days were marked by a selloff of small investors, some of whom are panicking at the prospects of quickly evaporating paper gains and have thrown in the towel. This has lead to a snowball effect, which may have exacerbated the panic feeling. I myself was somewhat stunned by the magnitude of the losses. Kim Hart must have had a terrible day today fielding all of these phone calls.

By the way, once it hit bottom at $11.25 it took only 55 minutes to climb from $11.25 to $12.85, but in the following hour (which was the last hour of the day) it dropped back somewhat.

There was no indication from the company that anything has changed. If tomorrow is another day like today, perhaps the company should issue a press release just to say that nothing has changed. That did wonders a few weeks ago when the stock dropped from $10 to $7 in one morning and the VSE halted the stock and asked the company to say something. Today when the stock was at $11.25 I was praying for another trading halt to cool things off.

Check the Globe and the Post tomorrow morning. They may have a comment on what happened today. Ted Carter might say something in tomorrow's newsletter.

Keep the faith...
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News