Let this be a cautionary tale.
And I'm going to try and be as serious as I've ever been on this board. I was initially roped into this stock by mother. Unfortunately, when she she wanted me to invest was right after the 2008-2009 financial crisis. I was young and dumb and lost A LOT after that. So much that I couldn't invest. And so I watched my older brother make 30K on this stock and my mother six figures. No joke.
The fundamentals seemed far more promising, and back in those days MXSG "stretched the truth" in their PR's far more than they do now. So I stumbled on in work and unfortunately my mother died a slow and painful breast cancer death. No inheritance as my dad is still alive, but I received a considerable amount of insurance money. I was only 28, still young in my book, and yes I know, but I thought somehow investing in MXSG would keep her memory alive.
So lets just say around 2013 I finanlly invested like I wanted to. Not at MXSG's all time highs, but certainly no where near what it is today. Luckily, I was smart enough to paay off my debts first. So in the end I lost money that technically I never had. A GREAT lesson for a man in his 20's. I hoped, and prayed, and hoped, and prayed for nearly 4 years. I think I had naturally gotten out of my depression that followed my mom's death and the MarMar fiasco shocked me back into reality.
It was hard to finally cut my losses, but that's exactly what I did. That was in 2018, and now it's interesting to see moderators and other "longs" who were longs alongside me, now turn against MXSG. It took them a bit longer than me, but I think it's an inevitable journey for most longs.
I feel really sorry for the longs still trying to justify horrific fundamentals and now inserting COVID as a variable into an equation that MXSG NEVER mentioned.
Even if MXSG strikes gold in 5 years and hit's 0.10 it is STILL the wrong thing to suggest that people load up! Are you kidding?! If it hits, it hits! We all win! Load up when the financials look better. It's one thing to brainwash yourselves, but it's another to dole out such reckless "advice". NOTHING about this company's fundamentals are healthy. As people have rightfully pointed out, MXSG is still borrowing. Enough is enough. Investing in stocks is just as much psychology as it is fundamentals. Please don't let your greed blind your common sense.
Let me put it this way. What's worse? Being a millionaire or being bankrupt?? You invest in stocks accordingly! Meaning, "is this stock more likely to make me millions or make me bankrupt??". If you get lucky, you get lucky. But you don't invest on luck. You invest on being smart. Also put another way if I had held on to my initial investment in Apple in 2006 (straight out of college) I'd be close to a millionaire today. Unfortunately when you make 7K at 22 and straight out of college w/o a job, that's amazing! If I was SMART I would've kept investing in Apple, but I didn't. MXSG shouldn't be any different.
That is all.
