Little bit of group therapy here but also keeping things realistic. This was less of a "trade" for me and I considered it more of an "investment" After the pull back from .26 to .20 there was a drop to .15 where I averaged up and bought more.
GIGL tagged .21 after that and then back down to the mid teens. The chart started showing lower highs and lower lows (downtrend) but I did not even consider to sell because I was waiting on the franchising news as opposed to the somewhat surprising Tia Mowry announcement.
In my opinion the momentum shifted here when the dispute with SGI was announced. I think it was / is in SGI's interest at the time to drop the price. (lets not start a long convo about this its a known fact how easy it is to move a ticker with low volume combined with the number of investors who bought high on the announcements and were sure to be spooked with retracement)
Regardless I am holding EVERY SINGLE SHARE still. Not proud of it in the least as my avg was .03 and last week I added at .05 as I was happy with the announcement regarding the Bahrain finalization by end of this month. So now my avg is just under .04 on 555k shares and Im quite in the red at this current point.
However, the current prices are artificially depressed because of the selling from SGI. Any of the longs who are still here won't be selling at any price.
If you believe in the concept and the inevitable expansion the company will be able to do with $5,000,000.00 then its starting to look like a great investment at current levels.
At some point soon, SGI will be out and VNDM will be gone, Bahrain will finalize, the rights offering will be fully subscribed, the company will have capital to expand to new locations.
GIGL is most definitely on watch lists and radar screens and those who haven't sold at this point aren't going to.
