sirinvest:
I too don't like price drops in stocks. Who does?
I find RRGI very interesting because as a stock and entertainment idea, it's fantastic, a no-brainer.
Some think it may be a scam because the price is down.
I don't think so. The price fall here is in part due to the
shorts. They have to buy back sometime. Maybe that's taking place already.
In a stock like this, the people involved are very important. I don't think people like Bobby Allison, Rusty Wallace, Glenn Allen (director & consultant), people very well known, if not famous, in Nascar, for example, are scam artists. Also, P&G won't sign on unless they saw something worthwhile, etc.
A friend of mind got into a scam stock out of northern California some years ago. It was run by 2 guys. Who knows who they were.
But we know the people and companies involved in rrgi have good reputations. And to me that's important.
As for the trading, it's been heavy, about 14 million shares have traded since the split. Considering that rrgi has only about 12 million to 15 million on the float, wow, one would expect the prices to really plunge to 2 cents. But instead it drifted down from about 0.40 to 0.25.
I'm not saying I like it or that it looks pretty on top of the shorting.
But anybody who trades lower float stocks of 15 million or even higher float stocks of 35 million shares will know that any sustained selling at this kind of volume will kill the stock fast.
So to me, and I may be very wrong, it seems that we have some decent to fairly good buying that's keeping us in the game.
So far.
Look at today for example. Over 1 million shares traded and the price range for most of the day was between 0.235 and 0.255. Maybe the more important question is, not who's selling, but who's buying.
Of course, all this rambling may be pure nonsense.
I just hope for the best that we won't go lower and that
we'll hear more good news next week.
Good luck.
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