Sunday, July 17, 2022 8:11:46 PM
FYI keeps looking for a string of 10-20 million share days as an indicator that we have “arrived”. Assuming the best, where will that 50-100 million shares come from. From what I see, the shares are tightly held and most of the current shareholders are not interested in a 50% return or even a 1x, 2x or 5x …they are looking for the home run.
Let’s say it goes from $0.10 to $0.20….a few may sell to recover their initial cost so they can let the rest “ride”. FOMO is powerful.
As it goes from $0.20-$0.50, the price movement will attract some of the “fast money” associated with Robinhood/Reddit. Long time holders may sell another 20% of their holding but still have half their original amount. Even JB will only sell a fraction of his holdings to reduce his cost basis to zero.
From here, I have no idea….it will depend upon the nature of the opportunity and the 5 year prospects.
100% conjecture.
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