IMO, the peer pressure to be positive led some people on this board to "sweeten up" their public assessment of CCME. At times, I know that I certainly wanted to find reasons be more positive on CCME, as did Traderfan. It's human nature--you don't want to go against friends and former allies in an investment. No one wants to be Benedict Arnold.
What was the result of this peer-induced positivity? People are selling homes right now to cover margin on the scam.
Lesson learned: the truth is all that matters. Don't hold back. And I'm not going to.
There are plenty of people talking the positive side of CKGT.OB on this board. Gary, a highly-respected authority here, has been explaining the positive CKGT.OB investment thesis for many months now. You've never once complained about the potential impact on the stock price. Not a single time.
But then I make one post expressing a negative view, supposedly causing the stock--which is painfully illiquid--to moves a few cents, and you start complaining?
Seriously brother, this is a market. If you can't take the heat, get out of the kitchen. If you're not going to object to those who speak favorably of your holdings, you have no justification for objecting to those who speak negatively of them.
We need both sides. Let the buyers and sellers decide. Otherwise, tragedies like CCME happen.
I'm not picking on CKGT in specific, it's not necessarily any more dangerous than any other OTC reverse merger name with a low quality auditor and high margins. But I'm definitely not an interested buyer until I see the filings that will tell me what these guys actually make. Even then, the p/e discount is partially justified IMO given the poor performance of the company. Seriously, they suck, especially at working with the investment community. Ultimately, it's not even clear to me that shareholders own anything here.
The company is not actively engaged. It's asleep at the wheel. They hired that extremely shady pennystock IR firm to pump them, and they got involved in that ridiculous put offering nonsense at a terrible price.
Seriously, what is going on here? Why would any legitimate, financially healthy company even think of selling shares at these levels? Given the reported earnings, why aren't they buying back shares hand over fist right now? What would be a better investment than to buy back your own shares at P/E less than 2? And yet they are on the other end, thinking about selling shares.
When Zack visited, they wouldn't even let him see the facility? Why not? In this space, when people won't show you what you ask to see, you assume the worst.
And then you add the very appropriate china RTO discount. In my view, there is a reason the stock is where it is. It's not cheap relative to other names of a similar pedigree, such as LTUS or WKBT. So there is no reason to complain or cry foul.
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