Posted some concerns a few weeks back, requesting members here to look beyond the hype, excitement and potential for the stock to return big profits. Concerns have become reality.
Great CEO and A List celeb, however concerns were/are: the company has poor financials and needed more $$ to fund growth, the product devel seemed not completed, no active website for the headphones and subsequent delay and cancellation of the deal. Often most of these penny stocks are set up to attain funding for growth or just quick profits for insiders. Often the average investors are left guessing when their investments disappear. We have been getting good news and the pps keep going down. What is it going to take? Even when the head phones come out, will the pps still be bled out again? At the current pps even a 500% spike many investors will be still riding a loss.
Lesson here is research the hype and wait for the spike. Better a 25% gain on a few trades that a 75% loss on one.
On a positive note, appears that many insiders have bought in between .10 & .25, so for it to be worth their while the there needs to be a good spike. Let’s hope this has a run like JAMN recently had from pennies to $6.
Just an opinion here. Do your own research to form your own opinion.
GLTA.
