Howardriggin'---
You may be entirely correct in your assessment. If we differ at all, I believe it's in determining why the steady drop:
1. We should never have experienced the incredibly positive journey higher in the first place! Without profits, no clear-cut path to prosperity, insufficient funding to accomplish top-line goals without the massive dilution that had to happen (and did!) over and over again---and then there's the notoriety coming from Robin Hood which was causing a tsunami thanks to commission-free trades very quickly adopted by other prominent brokerages.
2. Widely known shorts seemed to have triggered the beginning of the fall from Grace but my take is somewhat different as I buy into the parabolic tendencies in stock investing that would have inertial responses allowing for shares to climb until they can no longer continue doing so. At that time things skitter along while flirting with falling off the proverbial cliff. From there it's the usual bag-holding defensive posturing with lots of finger-pointing. Nobody wants to be viewed as a bag-holder, right? I've been there myself numerous times, albeit not in this particular instance. It's lousy for sure.
3. Momentum spells it all out as I see it. As with the parabola, momentum builds sufficiently to allow the surge of excitement to grow into a crescendo. Couple this with the pandemic, the stay-at-home orders, enormous loss of jobs and income and we have the perfect formula for what I might call the "rush to magical dream fulfillment."
America has suffered terrible battles before and managed to survive. We will again. All of our issues today will eventually be forgotten.
For now, I'm waiting and watching, being of the belief that enough good things are in place that will, in time, make GNUS a worthy portfolio component. I suspect shares will drop back more, perhaps to the 75 cent range---before I dabble once again. After all, it's widely recognized that when a publicly traded company not yet profitable announces it will be several quarters more before strategic moves pull together, not many will be willing to toss their money into the ring. There are, after all, promising opportunities elsewhere.
Bottom line:
I like what this company is planning on becoming. And I'd like to have my hat in the winners' circle same as everybody else. So it comes down to timing. And that becomes complicated with the pandemic at hand plus a whole lot of political uncertainty staging a siege and the possibility of another lock-down.
Still, GNUS is tantalizing and I'm not about to abandon this pick.
Good fortune to you!
AI
