Thursday, June 23, 2022 2:58:40 PM
Indeed nobody wants to see a 30% loss in one day. A less dramatic way of putting it is the drop is also equal to approximately 30% since the beginning of 2022 when BABY was trading for $1.18 CAD.
I own quite a few blue chip stocks such as Brookfield Asset Management (BAM). Coincidentally its SP has also dropped about 30% since the beginning of the year. Am I upset in seeing my portfolio value drop by several hundred Gs? Of course I am, it's human nature. Should I and would I sell, hell no!
Someone here will appreciate this, Berkshire Hathaway dropped from a high of $539K on March 25 to its current price of $398K, a similar drop as BAM. These companies are relishing the buying opportunities that are presenting themselves. Point is if you believe in the fundamentals of a company, and they pay dividends, then you just hold on.
By no stretch of the imagination am I comparing ELSE to the above mentioned companies. At the moment there are no "fundamentals" to look into. It's just a very small cap company in need of cash with a great ambition to succeed. They have correctly come to the conclusion that raising funds under the current economic conditions and in the foreseeable future may prove to be more difficult than it might have been in the past. So they are being proactive in securing some extra cash now, nothing wrong with that. I for one wish them luck and hope that they hit it out of the park and end up winning the world series!
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