I am an ex-shareholder and would like to share my thoughts of this blatant crime that has gone on for so long with no end in sight, though the end has always appeared as a mirage on the horizon and continues to do so since the early days of this struggle between the shareholders and the government.
By the way things have transpired for nearly 10 years, it is evident the government is determined to not let shareholders get rich by taking advantage of a crime they committed.
Shareholders who have posted or commented on social media or written articles on Seeking Alpha and elsewhere about how rich they will be when the sun, moon and stars align, have not helped the cause either. Folks from the opposing camp who read stuff about how atrociously rich shareholders could get are determined to not let that "get rich quick" shareholder dream come true. Eventually they may settle and shareholders may get some relief, but I am not sure if wasting 10 years or more here waiting in hope will be worth the effort.
I held the stock for over 5 years and eventually gave up about 4 years ago. It took a great deal of thought to make up my mind since I didn't want to miss out on the jackpot like everyone else here. When I look back, at least for now, I am glad I took the step I did. I had 77,000 shares of FMCC which I bought at $0.80 and sold at slightly over $3. I invested elsewhere and by God's grace I grew that money to a point where I can afford over 900K shares of FMCC at the current price.
Whenever the stock price got hammered in the past, it would come to $1 or thereabouts and then bottom out. On one occasion I think it also dipped to nearly $0.90 briefly with the selling pressure and then bounced back. This time I have a gut feeling it will dip below $0.90; I may be wrong, and I hope I am, but with how things have gone so far, it just looks that way.
For those of you holding and especially for those who are between a rock and a hard place, I feel for you and I hope it works out for you. I have been through this roller-coaster ride umpteen times and I know how bad it hurts. When I was a holder, Bob Corker, Mark Warner, John Carney etc were names I absolutely disdained. These people were hellbent on making shareholders' lives as miserable as they possible could. Whenever there was some good news. they would come out with a hit piece to take away all the joy and replace it with misery for the shareholders.
The government is clearly wrong with what it has done so far. If they were a private entity, they would have been clobbered by the judiciary a long time ago. In this case, the government and judiciary are one. Come hell or high water, they are adamant on not letting the shareholders gain from their crime. That said, I really hope they pay for their crime and the investors at least get a decent return on their investment, if not a windfall. GLTA.
AI
