Sunday, February 07, 2021 8:41:01 AM
I got blasted for it and now anyone who was a new investor here since the beginning of December is now underwater and anyone (and I saw a ton of it) who averaged up the past 2 months is underwater as well.
I would throw any valuation models out at this point until things become more clear. They, imo, are now not only reverse splitting 23 million shares, if they are smart they are going to sell shares to pay for debt, etc. and max out the shares to the authorized amount and then reverse split the 150-200 million outstanding down 1/15. Dirty but it’s how it’s done.
I was surprised to see Friday’s volume so low. It was only 1.7 million which is like 2-3 holders here alone, to me it means of the CLHI shareholders that own 12+ million in total many didn’t sell. Had the volume been 15-20 million or so I’d say the bottom may be in but I think this week will see more pressured selling and it back to the $0.25 level fast. And this time around, even at $0.25 I am not buying in, too many unknowns at this point and the first impression from a filing standpoint with this company (1/15 RS) is not impressive.
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