ADY 20.0% 1.2¢ admiralty resources nl.

dont throw in the towel

  1. 353 Posts.
    I wouldn't throw in the towel just yet. It wasn't a pump and dump this morning. Pre-open, when it looked like an announcement was unlikely before the trading halt was required to end we were looking at below 0.010. However, when the market saw that the sale was still on the cards the sp rallied to 0.015...and it certainly hasn't been dumped from there.

    Notwithstanding all of the critisims levied at management for selling RLL, the broader market does seem to like the idea. The market liked the idea when it was originally announced and, this morning, when it looked as though it may still go ahead, the market liked the idea again. If there is a positive announcement regarding the sale this afternoon, I would expect the sp to rise again.

    Obviously, meaningful debate on my views welcome.

    Good luck to all who have held for the longer term and who are looking to claw back some of their losses, and also good luck to those who want to cut their losses and get out for fear of losing more. Personally, I hold and will continue to hold - funds permitting I would probably also look to average down (don't bother saying that's a stupid thing to do with this stock, as I already know that is the view of many).

    For those who have lost substantially on this stock, just remember that its only a paper loss until you actually sell. The market has temporarily destroyed many of these types of stocks, but the conditions in the market cannot last forever. When the conditions improve I am confident that stocks such as these will also improve markedly in their sp.

 
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Last trade - 14.52pm 21/10/2020 (20 minute delay) ?
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