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As I expected...they tried to put up a big block of 25K to entice selling or to slow down the upwards pressure at $2.97-$3.00, then at the close we saw a 5K block bought at $3.05 go through as an after hours trade. Good vibes going into tomorrow with another solid 73K volume today with about 75% bought on the ask. Maybe the run we expected is just beginning...we surely can at least hope!
PokerStar
Normally when a big block like the 25K we see on the ask, it would cause a few to sell into the bid. Now we're seeing people slowly buy it up. Wouldn't be surprised to see a big after hours block sale show up after close today. IMO.
PokerStar
Maybe...just maybe the run we all expected when the merger finally closed is about to happen. Someone put up a 25K block up @ $3.00. It appears to me there is possibly still some loading the boat ongoing. We'll see I guess, but I'm liking the response to them knocking the price down to the $2.20 area a few days ago. Still need some big volume on the ask to get this really moving north.
PokerStar
Close of $3.33 for the day....pretty decent volume and a green day...on a Friday to boot! It rebounded faster than I thought it would. That's a good sign in my opinion. With Brian saying the merger would be completed in April, I'm hoping he surprises everyone and announces the merger after the loser flippers do their next dumping into the bid and they have to chase it higher to buy them back. It's been in the works for almost 2 years. I'm sure all the financing has already been arranged and it's just a matter of signing the paperwork. I'm hoping Brian surprises us all with an announcement in the second week of April. Tick, tock! Best of luck my friend!
PokerStar
I hear you Gary...some just seem happy to flip for a .30-.40 cent profit. These fools sell into the bid to drop the price in the hopes of enticing more bid whacking, so they can buy back in cheaper. The time is coming where buyers will snap up the bargains to raise the price back to where it was and higher. New buyers needed and I see a big change in the trading pattern coming our way. The days of under 20K shares daily will be a thing of the past and this manipulation will end. Once the merger is completed and announced in the coming weeks, I'm expecting a whole lot of ask slapping, a new breed of investors buying shares here and some serious price appreciation in time. Patience will pay off here. I know you're as frustrated as I am with these scumbags.
PokerStar
Ditto here! Hopefully with the upcoming vote results for the 100% merger/takeover, the true value of the new combined company, both of which are already profitable companies, the market will give this new company a much, much higher valuation. I'm with RBC and the analyst coverage on GMGI has a valuation today of $5.37. When the new company emerges and starts reporting their sales and profits, I guarantee it will get investors excited and buying shares here. How many gambling stocks out there are actually profitable that is costing them hundreds of dollars per player retention. GMGI has very low cost player retention and when the synergies from these two profitable companies merge, it will get the attention of small investors and Wall Street investment firms. The sky is the limit here. All the best brother!
PokerStar
Another after hours large blocks went off today. Over 40K @ $3.07, nice to finally see positive news and the price didn't collapse as usual. Now let's get this acquisition done and close this massive Meridian Bet deal and get these combined company's books together and welcome the new breed of traders to this baby. We need new blood in the worst way and I'm a firm believer that we will flush out some of these swing traders. The price rarely moves more than a few cents back and forth for the last few months and I think once these new buyers step in, the price will increase significantly and these flippers will be replaced by actual investors that will eat every share that these morons dump into the bid trying to rebuy cheaper. Our day is coming Gary....a little more time and patience required but I think we have a nice break out coming soon. IMO!
PokerStar
