Elray Resources Inc (ELRA)

[SPM555]

Im just super annoyed because a friend of mine is dick riding ELRA because Wallstreetinvestor.com gives elra a 1 year forecast of $4,800 and a 5 year forcast of $18267.70

Who cares what your friend does or thinks? It has no bearing on you. Yes, the forecast from that site is pure nonsense, but he has to learn that one way or the other.

That being said, don't let your friend's ignorance blind you to the big picture. Yes, $ELRA is essentially a shell and nothing more at this time. To invest here is to take a large amount of risk because in this state, nothing on the surface indicates anything going on. However, there is a very big upside here and it's far from impossible for the company to realize that potential.

We know the OTC rules are changing in June and that means any company that is not current will get smacked. I'm not sure if that means suspension, delisting or what, but it won't be good. So buying here essentially means risking it all, everyone needs to understand that.

On the bright side though, there are a few reasons that there absolutely could be a good chance these guys do speak up and get current, and the implications for that are absolutely massive. The market has priced this down to the point where there's essentially no potential, so getting current would mean a total paradigm shift for the market and an instantaneous repricing of the shares.

So why do I think there's a fighting chance they may get current? Well for starters there's ample accumulation in the chart. In my 15 years of trading that doesn't happen on accident, it happens when people know something is going to happen or has a good shot of happening. The stronger the accumulation, the better the odds. $ELRA has very strong accumulation. How do I know? 15 years of trading.

The other factors to consider are the fact that the company filed a 15-12 back in April of 2019. OTC companies do that when they want to remove the obligation of filing with the SEC so they don't get suspended. So at least back in 2019, they felt it was worthwhile to save the shell/ticker for something in the future. Do they still feel that way? We'll see, but by June we should know either way.

The final thing to consider is the CEO of the company has had massive success with his other company (which has been his main focus in recent years, hence why $ELRA has been nothing but a shell), $GMGI.

So long story short, yes your buddy is naive and there's zero chance of those targets being hit (their based on stupid arbitrary algorithms that are not meant for triple zero turds), however don't let that blind you to the fact that $ELRA actually has a fighting chance to make buyers down here a huge return.