Hello,
I mostly lurk here, but have been in GMGC for 2 years now. I appreciate everyone's thoughtful posts and have found this to be one of the more cooperative threads. Hopefully it will pay off soon!
Anyway, I watched the stock action today on level 2, and Bear Stearns, along with their ECN, Strike Technologies, were hammering bids into the close. They weren't the only ones selling, but for a while it was pretty obvious they were working a large order. I bid for a decent block of stock at 5, when it was 4 31/32 - 5 1/32, and was hit so fast, it scared the S**T out of me. No way of knowing who hit my bid, but my guess is that Bear is trading (shorting) the shares on behalf of a large seller.
Didn't we see the same kind of selling a few months ago, when the stock dropped below 5 for a day or two? IMO this is a decent buying opportunity... maybe scale in over the next few days, maybe it gets a little cheaper.
2 questions: How does keeping the stock price down now benefit the convertible holders?
How many equivalent shares are convertible if GMGC sits at 5 or below?
Thanks. |
