BlackStar Enterprise Group Inc (BEGI)

[Bubae]

Traders had this priced correctly in October when it traded as low as .0001 in October in my opinion. Those people were looking at press releases that were more honest like that in March which had statements like "However, there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all" and "The BDTP™ is not yet functional and may never be functional."

Then in October, the press release announces that actual patent approval which is no less viable than it was before. But the CEO this time says nothing about the actual efficacy of the patent but rather makes a dubious claim of a "monopoly" for which I called him pout on in another post. This is where social media takes over and Crowd psychology drives the speculative fervor. This has happened over and over with this stock and resulted in large retail losses. Someone will be paying the bills here and it will not be the company.


Greater fool theory
https://en.wikipedia.org/wiki/Greater_fool_theory

In finance, the greater fool theory suggests that one can sometimes make money through the purchase of overvalued assetsitems with a purchase price drastically exceeding the intrinsic value if those assets can later be resold at an even higher price.

In this context, one "fool" might pay for an overpriced asset, hoping that they can sell it to an even "greater fool" and make a profit. This only works as long as there are enough new "greater fools" willing to pay higher and higher prices for the asset. Eventually, investors can no longer deny that the price is out of touch with reality, at which point a sell-off can cause the price to drop significantly until it is closer to its fair value, which in some cases could be zero


BlackStar Enterprise Group, Inc. Provides Registration Statement Update
Wednesday, 15 March 2023 10:30
https://www.accesswire.com/743761/BlackStar-Enterprise-Group-Inc-Provides-Registration-Statement-Update

However, there can be no assurance that such regulatory approvals will be obtained in a timely manner or at all

We believe it may take an additional six to nine months to address SEC comments and questions, and there is no assurance that we will be successful in our shares being approved or cleared for trading on our BDTP™ platform. The BDTP™ is not yet functional and may never be functional.

BlackStar will Receive a Patent on its Revolutionary Digital Trading Platform: A Blockchain Encrypted Infrastructure Designed to Enable Digital Assets that are Securities to Trade on a Blockchain.
Tuesday, 24 October 2023 09:30

When asked for comment, BlackStar's CEO, Joseph E Kurczodyna stated that "this may revolutionize blockchain trading of digital assets that are securities." When this patent issues in due course at the USPTO, likely in November 2023, BlackStar will have a registered patent that will give BlackStar a 20-year monopoly on digital equity trading of securities on a blockchain.