Good questions, Mamah. I was a little shocked to have Lionel's message posted to me! He clearly stated that it was not directed to/at me, yet I was taken aback anyway. For a long while I have "known" (sixth sense) that this was coming, as did we all (sixth sense). For the life of me I cannot see how it is really going to cure anything - meaning, I dont see how it will get BCMD off the BB.
As I said a while ago, besides actual production numbers, proof of the golden pudding sort of thing, I think the only thing that can move this stock is for the company to buy back shares, not further dilute, because, as I am learning, stocks with large floats do not react well (excepting a first run) to "news". No matter how much buying you do, you cant move that darn price. Then discouragement sets in, then selling. Now the internet itself is a lethal tool.
As much as we would like to blame everything on the company, I think the daytrading, impatient internet is also to blame. Of course I know that many of us had/have large holdings and were long-term holders. But that was not true of the DTO folk who originally helped the stock run to $2+ and then dumped. That is the point I am looking at. Had there been a smaller float, the dump would not have been so bad. As the daytraders let go, others would have been happy to pick those shares up and hold the price. Had there been institutional buying, the price would have been supported. As it is, there are enormous blocks of shares by steady holders and the price still does not hold.
It is the "nature" of the internet - no news = selloff. I see it in stocks time and time again. I learned it all here and in another big-float stock. I sold my last (hold forever) shares a few days ago. The idea of the reverse split just kept nagging at me.
My understanding is that shareholders of less than 5% of the total do not have voting rights. Is that correct?
It is sad to me to see "our" dream reduced to paraplegic status. I'm sure it is just as sad for the BCMD team as well. Naysayers have a definite effect upon stocks, upon the mood of the threads, and many of them are professionals at interjecting fears. In this case, I am not sure what they have gained, if that was the intent (to bring the price down).
But, I for one, believe that this is a good mine, a tough little company with a heck of a lot of growing pains. It seems that they have been stuck in the developmental stage of a "ten year old" for a while and I hope they soon reach the "terrible teens" so that they can move on and out! I will be there to pick up the pieces (more shares) when the dust has settled.
Charger |
