Quite right Balance surprised you are buying ....what if one of the insto's bails ........
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No worries about them. They are so donkey deep they cannot get out even if they wanted to without completely thrashing the sp.
Just needs a few more millions of dollars (compared to the tens of millions of dollars already invested by them) now to mop up the panic-stricken capitulating holders, at the lower sp to support the sp and give their funds performances a boost.
Sp has bounced back to 42 cents as expected.
For those who are interested in observing and studying investing psychology, PEB sp action today exhibits the classic capitulation trade opportunity.
Things to take away from today (because it isn't over yet)
- Retail shareholders bailing at losses, some of which are big
- No institutions or major shareholders (ie the people who have actually been to the meeting and spoken face to face with these people, and probably understand the company better than any of us on here, and [finally] don't have some sort of personal issue with "DD") have not sold out (yet), this is despite them being some of 'the big' losers
- The retail shareholder is unsure of PEB future, worried about adverse results in 22 days time, and has generally lost confidence (fair enough)
- Along with retail panic, emotion is begging to play a part (understandable)
- Forsyth Barr have produced another report (before market open) pricing the shares at $1, with continued backing of the science and the overall business model (although notes things that are largely out of PEB's control are progressing a bit slower than expected)
- Irrational (emotional?) comments like "the diehard believers are panicking out of their beloved illusion" (diehard believers lol, you mean the quick buck hopefuls?) and "At what SP will they roll DD?" have begun... the very comments that lead to the people who understood PEB the most, leaving the thread for others to squabble in