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I have never seen a stock act the way this one has unless it was diluting like crazy regularly. We know with over 15 million in cash on hand, dilution is not happening here, and to top it off, they set aside 2 million dollars for a share buyback. So what exactly is the explanation for the non stop pressure on the bid? All that makes any sense to me is shorting. With everything this company had accomplished in the last 2 years and the upcoming massive acquisition, how is it possible to be trading near all time lows?
PokerStar
I'd be a lot happier knowing GMGI was diluting causing the downward pressure on the share price, but instead large holders are getting fed up and dumping into the bid or shorters are reloaded with cheap, borrowed shares and are getting ready for another dump fest to lower the price even further. All I know is I'm getting sick seeing us back down to $2 bucks! Unf*ckingbelievable!!!
PokerStar
I'd love to find out myself and have a little meeting with them behind the barn, if you know what I mean! Almost 50K in volume and they close us at $2.09 right at the bell. So f*cking sickening to see this day after day!
PokerStar
Almost all buys today on 15K volume. Some just sold for $2.12 then right after, I see a sell order @$2.07???? Someone sold into the bid and it sold for $2.0699. Five digit trades can only done by MMs. Again my thoughts remain the same here....MMs sell short at a higher price to fill order then try to cover at a lower price. Only explanation in my opinion why we've had decent volume the last 2 weeks and we continue to be stuck in this stupid $2.02-$2.20 range.
PokerStar
Very unlikely....unless the Meridian deal falls apart. That is unlikely as well....
PokerStar
The deal has been announced for 6 months and CEO updated on last 8K. Not being arrogant, but not here to do everyone elses due diligence! I lead the horse to the water but I'm not forcing him to drink. That's up to you!
PokerStar
What are you asking? Everything you need to see is in the last 8K. Can you not read?
PokerStar
Firstly, they lost money last quarter for the first time in 14 or 15 straight quarters due only to payments made to the CEO and board members' performance bonuses. Secondly, they have reported the deal with behemoth, MeridianBet to acquire them in a stock and cash deal. It's due to close anytime from now to the end of the 4th quarter. All right there in the 8Ks if you take time to read them.
PokerStar
You'd think that some entity is driving the price lower, either by shorting the stock or other means to get a bigger chunk of the company once an acquisition is made. After Brian had to negotiate a lesser price point and give up more shares to consummate the deal, from $3.50 down to $3.00, our share price fell from upper $2s down to almost $2 bucks. If somehow, MeridianBet is going to get sn even lower price and even more shares of the company to close the deal, I'm going to be pissed. It's going to inflate the share count even more and make it harder for our share price to increase from these paltry levels. I sure hope I'm wrong and the deal closes soon at the $3.00 agreed upon price from the last update.
PokerStar
Just .25 cents from their low from the reverse split a couple of years ago. Since then, GMGI has grown in size, grown their profits and are on the cusp of the huge acquisition of MeridianBet....yet here we are, near all time lows. Wish I had the funds to acquire another 20K shares at this crazy low price.
PokerStar
I get it Gary, that's my point about price manipulation! Someone is buying a pile, bid sitting, otherwise we'd be back under 2 bucks. Probably MMs or a group covering their shorts from the $2.60-$2.80 range, or getting ready for the next leg up, filling their pockets with cheap shares so they can dump them on the next bump in price. Nobody knows how to invest anymore....it's all about short term flipping nowadays.
PokerStar
Look at today's volume....over 52K shares traded and up a whopping .03 cents! Can we say price manipulation! Looking forward to the usual take down and back to red at the close! F*cking manipulating losers!
PokerStar
I'm not sure myself where Roger is, or if he's even still with us. This site has become so out of touch and most traders have moved on to Twitter and other sites for their trading discord. My guess is he's on another platform.
PokerStar
It's not like we hasn't seen that for well over 100 trading days in the last year.
PokerStar
Hey Trust.....GMGI is currently supplying over 645 casino and online casino sites their gambling software. They just started their own online casino in Mexico about 6 months ago and are in the very late stages of acquiring MeridianBet.....one of the largest and profitable casinos in the Asian region. Once complete they plan on expanding their reach to South America and hopefully the North American market in time. GMGI has been profitable for over 3 years and the acquisition coming onboard has a great track record over the years of even better profitability. This stock has been lightly traded in the last year but expecting once the acquisition is complete, we see better daily volume. MeridianBet, when deal is complete has agreed to take a large block of restricted stock valued @ $3.00 per share, as part of the 100 million dollar acquisition. The rest of the funds will be debt and the CEO's last 8k stated that they had the funders lined up and ready. They expect the acquisition to close late in the 3rd quarter or early in the 4th quarter. This price we see today is bargain basement, in my opinion. It did dip to the $1.89 range, but that didn't last for more than a day before buyers scooped up piles of stock and the price responded to the high $2.80 range. I'm expecting good things from the company and hopefully the stock price will respond positively and grow with the company. Best of luck with your decision. I'm not suggesting to buy or stay away....that is your call after you do your due diligence!
PokerStar
More good news this morning and these loser shorts just keep beating us down, lower and lower. F*cking unbelievable!
PokerStar
Yep....f*cking losers! Shorted it right back down to where it started @$2.30. Unbelievable @ssholes!
PokerStar
Unless Brian was buying heavy in the $2.40 area, it's hard to believe sells were 49K and buys were a mere 4K and we closed green. Maybe a whole lot of small, Friday profit taking, until the gap was closed, by this group of sellers for peanuts. Weird day of trading is all I can say!
PokerStar
Let's see what next week brings. I hate when there's gaps in the chart because 99% of the time, they are closed.....but not always as fast as this one did. Hopefully, we start to rebound at least back to the $2.60 area for starters. Have a good weekend Gary!
PokerStar
There we go....gap closed @$2.34....what's next????
PokerStar
Nothing but selling going on into the close. Hopefully they close the gap @$2.35 and start to rebound next week. I guess we'll find out what these dirty pr*cks are up to soon enough.
PokerStar
38K sells and 2.7K buys and were up .04 cents.....nothing about this stock ever makes sense. Guessing accumulation ongoing before the next run up hopefully!
PokerStar
Spoken like a true flipper/shorter!
PokerStar
And just like that, 22K caused another 6.5% price drop! Lol. Closed at $2.37. It took 330K shares to get the price to close @$2.60 over 2 days and 40K shares to kill the price back down to $2.37. If this was a gap up play by chart players, we can expect a gap close of $2.35 tomorrow. Any lower should cause buyers to flock in and start buying.....if it keeps going lower, it'll be caused by short sellers, IMO. My money is on the shorts and lower prices coming again! What a joke!
PokerStar
There was a gap in the daily chart last week. Closed @ $2.35 and opened @$2.45 and never closed the gap since. Expecting the price to at least close the gap @$2.35 and who knows, maybe even lower before rebounding. I guess we'll soon find out.
PokerStar
Yep....has been like this for months. Now that these dirty pr*cks just covered ahead of last Friday's news, they have a fresh 150K shares to short it back down to the low $2s. Like clockwork! No buyers here, just bid sitters that these dirt bags sell into. Over 300K shares, over 2 days, to bring it from low $2s to close at $2.60. Now, we'll see around 20K per day for a few weeks, killing the price back down. Until Brian gets this Meridian deal on the books, they'll keep dropping it. IMO.
PokerStar
Exactly the same Gary! That's why my days in the stock market are coming to an end. Tired of the same few making money while actual investors keep taking it up the *ss!
PokerStar
Just look at the trading at the end of last week as proof! We average a little better than 30K shares traded per day, yet on Thursday June 29th, we traded over 230K shares. Other than before the 150-1 reverse split, when we traded in the .02s, we've NEVER seen that kind of volume. Even on the uplist to Nasdaq, we've never traded that amount. Yet, one day before news is dropped, that solidifies the acquisition of MeridianBet going forward, and we set record volume here. Lol....naw, nothing to see here. Naw, MMs and the group shorting our stock for the last 8 months knew nothing about the upcoming news. Naw, retail knew at the same time about the news, on Friday the 30th. Naw, MMs and shorts didn't cover the day before news dropped! Anyone that blind, and that naive just don't understand how the rules of trading are different for retail, than deep pocket traders and MMs. More proof that covering was done early was the fact that once retail was let into the circle with the news on Friday, we only traded 130K shares that day, yet we traded over 230K the day before! Lol...naw, nothing to see here. Nothing but an even playing field! Ahem.....
PokerStar
MMs and the chosen few who are in the loop know before retail, not only that news is about to be dropped as well as what that news is and play the stock accordingly.
PokerStar
I really am lost with what's been going on here for months. I guess we'll see tomorrow if were back down to low volume again, I can surely see these short pr*cks taking us back down where we were. Tomorrow is Friday, so I expect the end of day selloff will continue. Hopefully we have some continuation from today's strong day but I'm not holding my breath!
PokerStar
I wonder what is causing the huge volume? Almost 200K...
I don't think I've ever seen it that high ever. Just breaking 100K on any given day is unusual! Maybe Brian has kicked in the buy back program into high gear.
PokerStar
Wish I would have....didn't even see the spike. Just checking in after getting back from dentist. Didn't last long by the looks of it. Another missed opportunity to dump this at a smaller loss. Oh well, maybe I'll see the next time it happens.
PokerStar
Same games, by the same douchebags....different day!
PokerStar
It took a little over 100K shares traded in the last 2 days for these crooks to cover the rest of the shorted shares. A little short squeeze yesterday got the price up to $2.30 from a low of $1.96. Today, on less than 15K shares traded, they've got the price down to $2.04. Shorts have all their ammunition back in hand and now they can get the price down to the $1.50 area until they have to cover again, unless big buying forces them to cover earlier. This has turned into a shorters paradise. Guaranteed profits by shorting this stock while longs watch their investment disappear or try to buy now and then to average down, hoping this eventually goes higher. This thing is under full control of shorts.....nobody can convince me otherwise!
PokerStar
You are obviously new here and not sitting on shares that are down 60%! The shorts here controlling the price for the last year just finished covering in the low $2s and below $2 bucks. It will run back up to the $2.40-$2.50 area, then these pr*cks will start dropping 200K borrowed shares into the bid, dropping this lower than today. As the relentless selling continues, they'll drop the price to the $1.50 area, then slowly start covering again. Rinse and repeat! Enjoy the little green day today, because a lot of red days follow a single green day! We longs here have seen this pattern for over a year now.
PokerStar
300 buys, 12,000 sells so far. The shorts are having a field day covering today, covering from the mid $2 dollar range. Once they are done covering, they'll have another couple hundred thousand shares ready to drop on shareholders heads to drop the price to the $1.50 range. This turd is done. Shorts win and will entirely kill this stock and send it back to the pinks!
PokerStar
Agreed....this has turned into nothing more than a bank for Goodman and his girlfriend. Sorry I held this after the drop under $3.50. Truly believed it was going to bounce back hard, back above $5 bucks. Man was I wrong. Holding and hoping for Brian's supposed share buy back to kick in and help shareholders but my feeling is, the delay in closing with Meridian will hurt us bad. These dirty pr*cks that continue to short this will drop the price to a buck until the closing actually happens. Nothing here but selling for months. Maybe douchebag Brian is waiting with all that cash to support the price at a dollar. Who knows. He keeps saying they are working on shareholder value but I think it's nothing more than lip service. Sick of this stock.....still hoping for some turn around so I can get out with less than a 60% loss!
PokerStar
Yep....these losers just got the volume they were looking for to cover their shorts in the very low $2s. If we don't see some bargain hunters buying these low priced shares, they'll drop this to $1.50. I'm getting sick of owning this sh*tbag of a stock. I guess Brian's big buy back plan will kick in when shares are about to drop below $1. What a f*cking joke this has turned out to be.
PokerStar
Just to clarify.....you need a trade during trading hours of 100 shares or more to reflect a price per share change. The last trade was for 150 shares a couple of hours ago @$2.25. This ticker, for some odd reason shows many small trades under 100 shares, and even 1 and 2 share trades. I'm sure this is all market maker games they do to control the price on such low volume. Whatever the reason, we need volume here.....lots of volume to end these games. Brian has to start caring about shareholder value because he will continue to see shareholders selling off. I know for myself, I'm been here since before the reverse split for the Nasdaq uplist. Since pre uplist, this thing has not only lost about 60% in value, but has we shareholders stuck big time. I keep holding out hope that after the Meridian acquisition is complete, we see some heavy buying and pressure on the ask. Zero reason for this to be trading below $5 bucks, let alone around the $2.25 mark. I'm giving this until the end of this year to show some price growth or I'm taking my big loss and moving whatever money I have left to stocks that have trading volume. This tight float was great with heavy buying, but since the uplist, daily volume sucks as well as the price. I'm not going to lie....this stock is making me physically and mentally ill!
PokerStar
Keep selling you shorts and short sighted pukes. As hard as you're trying to kill this stock, this will rebound hard very soon and you'll all look like the fools you are. Keep selling for your .15 and .20 cent profits and pay all those tiny daily profits back in taxes. You can't fix STUPID!
PokerStar