If it was true that it did not matter where a stock has historically traded then there would be no such thing as charting. But there are people who purely trade based on charts without any care for the actual company or products or one-time events.
The past does matter for SING because every couple quarters the management team comes up with a new plan to generate revenue. It never actually happens and then the stock retraces all the gains from the new product hype. We are in that cycle again here. SING is still multiple years away from significant and sustainable revenues. Buying based on a commercial being released is never an investment thesis for the longterm. A perfect example of this is Baristas Coffee. Every time they would announce a new national radio or TV advertising campaign the stock would pop only to crash back to earth. Look at that chart and it’s exactly what is in store for SING.
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