Replies to post #294592 on Spongetech Delivery Systems Inc (fka SPNGQ)

[john651]

I have only been doing this for a year so you know alot more than me but I thought you averaged down to increase your profit, not lessen a loss.

Why would you average down if you expect a loss, I am asking you this because I'm new to this and it makes no sense to me to average down if you expect a loss, and in Pike's case the pps would have had to go above 0.10 to just break even.

Do you think Pike thought the pps would go above 0.10 after the wells notice. If he did you are correct he is a stuck.