WELCOME TO PINKSHEETS.
Many of you folks have been speculating a lot on this board and EXPECTED THIS TO HIT $1 today or before Friday. But Alas - It might NEVER see $0.63 again in the NEAR FUTURE.
What you folks have to understand is this - This company might become the NEXT LAS VEGAS OR MGM but AT THIS POINT OF TIME, WE REALLY DON'T KNOW. At the same time, there is a small likelihood that this could be ONE OF THE MANY PINKSHEET STOCKS that just doesn't TAKE OFF.
If the company executes WELL and expands with another Casino over the next 3 to 6 months and their quarterly filings 3 months from now, show a SMALL PROFIT, this could trade much higher than 41 cents.
But sitting here in North America/USA or Canada, we really can't speculate about the "People in DR" and if they WILL GAMBLE like the guys in the United States.
So my point is this - At this point of time, HOW MUCH IS THIS COMPANY REALLY WORTH?? I don't think EVEN THE MM can place a value on this organization.
If this casino is destined to become profitable and they will start another casino in the DR (as expected), this might be worth $2 (especially with such a low float).
On the other hand, if this casino after the opening ceremony isn't really going to have "Many Gamblers" gamling and the revenues won't even touch 250,000$ in 3 months and will end up with LOSS, this might not be worth the current PPS of 41 cents.
From a contrarian perspective, particularly since this is a PINKSHEET STOCK and pinksheets stocks are MOST MANIPULATED, i wouldn't be surprised if this goes DOWN INTO THE OPENING CEREMONY or even stays around 41 cents.
And if everything goes well on 24th and there is more "Good News" coming in the form of a press release on Monday, 26th October, this could very easily GAP TO $1 OR MORE.
Remember, the May 27th trading??? The stock closed 26th May at 25 cents, opened on 27th may 2009 at 69 cents and then hit an intraday high of $1.05.
This IS HOW THE LOW FLOAT PINKSHEET STOCKS BEHAVE.
The ONLY THING THAT IS PREDICTABLE ABOUT THEM IS THEIR UNPREDICTABILITY.
Right now I hold 65000 shares and plan to hold this for a Quarter (am aware of the risks though!!).
But based on my few years investing experience at Wallstreet and OTCBB stocks, i have no doubts, NO HUMAN ON THIS PLANET CAN PREDICT WHAT WILL BE THE SHARE PRICE OF CGAQ 3 months from NOW.
It could be $3 or 0.03 cents....
Cheers!!
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