Too many penny stock investors fit into the get rich quick category. Regardless of how seemingly legitimate the company's business is, small caps and pennys are notoriously volatile - especially those with large OS and with investors with an agenda to dump at the first sign of good news (you know who they are).
Boards such as iHub can also generate so much anticipation and discussion over a single event (eg Virgin settlement, Sacnbuy settlement, patent ruling, etc) that the big picture is often forgotten.
The scanbuy settlement is great news, but it is not the end of the story. It is a very early step in a long road ahead, and the smarter end of the market realises that. I think NEOM will go up and down numerous times before it gets to where we want it to go. And todays sell off was to be expected. This is a volitile penny stock - ie popular amongst those who trade. I mean who wouldnt lock in profits after a 70% jump? You'd be crazy not to! Not all NEOM investors are emotionally attached to this stock. Some see it as trading fodder. I think it is due to the large amount of 'loyal' investors that we only gave back half of the gains from yesterday.
Up today, down tomorrow...I dont care. We are trending up I believe and while we may get a mini-fortune from NEOM in years to come, it wont happen overnight.
The big news stories such as scanbuy give credibility to the potential .... the revenues will be the REAL story that will see us evolve into a legitimate money making BUSINESS.
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