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I doubt that the sell off was due to tax implications. The way I see as reasons:
1. Stock had a nice run, so people took some profit 2. Insider selling by PK may have something to do with it 3. Some like to sell before financials and buy back after release 4. Some might not believe in the company being able to advance beyond gold pour by ramping up production 5. Some panic selling from long time holders as they saw their profit disappear 6. And of course I bet there was some manipulation by the institutions
With all that said, I believe in the CMM story and stock will hit new highs as production is ramped up.
1 comment:
I doubt that the sell off was due to tax implications. The way I see as reasons:
1. Stock had a nice run, so people took some profit
2. Insider selling by PK may have something to do with it
3. Some like to sell before financials and buy back after release
4. Some might not believe in the company being able to advance beyond gold pour by ramping up production
5. Some panic selling from long time holders as they saw their profit disappear
6. And of course I bet there was some manipulation by the institutions
With all that said, I believe in the CMM story and stock will hit new highs as production is ramped up.
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