cfpjbs, I'll say that I'm as suprised as anyone that we are this low again. Here is my take on why.
It is all a lack of news and follow through by AURC Management, period. On a security that trades thinly as this does, with no news and little interest, a MM that is already short shares can continue to sell short as many shares as they want on the ASK and create as large a supply as they want.
When they do this they set a ceiling we can't move, without volume.
At this point the bid starts to get hit and the price erodes. The more the price erodes, the more people hit the panic button and sell, usually at the Bid. (a bid whacker) This continues and the resolve and mentality of those that have held gets weak and it becomes an avalanche of people selling at the bid and the price drops.
I like most, am now upside down. I also know this is a game with the MM's. IMO they are being very successful in applying pain to shareholders through this price erosion. They won't cover until they feel strong upward pressure through buys at the ASK. If they have made good money, they won't continue to get shorter, they will cover. What we need is news that will put pressure on the stock to rise. At this point, everyone here has to assess their pain threshold. Some of the questions each must ask are what is the value of the security? How much can I afford to lose? Is management aligned with me the shareholder? How low do I want to go before selling? When will financials be released?
What am I going to do? I’m calling Mr. Parkin this afternoon and asking if he has concerns about the share price and shareholders at this level. I am going to relate that many shareholders, like he is doing, are putting money out of their own pockets to float the company. How, by being upside down and still holding we support the firms share price. I am going to apply more pressure for management to simply comply with statements they themselves have made concerning their performance. Meanwhile, I am holding and watching her drift down.
Airdale
This post is an opinion and should not be considered reason to buy or sell any security, or to besmirch, belittle or berate any person, religion, cult, creed, race, sex, political party, company or company representative of any age or appearance.
