Today I sold everything I bought last week plus the old ones I had except for my precious 10 shares. I netted about 18% on my way out.
I have changed my outlook on the fire and can find no logical reason that they would purposefully burn the place down. That doesn’t mean their ignorance or incompetence did not play a role in the fire but I cannot come up with a single reason why they come out better. Very bad timing. Especially with August coming up and they have exposed themselves for their way overstated building assets, which I generally compute slightly under $2 million, pre fire, and most likely post fire.
About $ 2 million of hard assets ( plus land value). Not anywhere near $ 3.8 million(plus land value).
In my opinion, none of the executive team has what is necessary to start the fire themselves
As much as it bothers me to say it, I believe it was an accident, gas leak or not, hydrogen by product of the EC process whatever. They aren’t smart enough.
With that precondition, I await the official Fire Marshall report
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