I hate to tell you this, but it was probably short covering. Buys of 90, 50, and 30k shares were flying by, but the price did not budge. I had a stop at $14 last week to sell half my GMGC position. I only wish I had put it all. I, like others here, believe we have been sold out. The lenders will short this stock and cover with their converted stock without dipping into the market. I only hope it gets hyped up again so that I can sell the other half of my stake, all profit, for more profit. I do believe the company will make money. Under normal arrangements, I would love to be here for the rise, but that rise was just sold. That is why management needed so much more stock for themselves (which I voted against), to make up their own losses. The only people who do not win are the actual investors. Sorry guys, just had to vent. Exact same thing happened to me with SYCR. Invested, waited it out and made some profit. Then has it sold out from under me by allowing investors to push the price down without having to cover in the market.
Deja Vouse all over again. (sp?)
Redbird |
