Re: Re San fran
in response to
by
posted on
Oct 19, 2020 03:41PM
This was DM's statement on the matter of share price per the 6/10/2020 Corporate Update transcript per imtesty posted on this site:
But before we get started with this discussion, let’s talk about the 800 pound gorilla in the room. What is with the large stock sell-off in the past month, and especially in the last week? That one is simple. I’ve heard speculations like bad news pending or cheap financing on the horizon, but these simply are not accurate. The real reason is one failed hedge fund in New York, which will remain un-named here. They held a large number of RVX shares, and chose to quickly sell them off as opposed to other alternatives that I believe would have likely posed a better return for their investors. And it is my belief that this situation is either done or close to it. Now related activity to this sell-off may continue for a short while, but the following details and strategies should put the stock back into a more realistic value as it was about a year ago.
On 6/10/2020, RVXCF closed at .58 - A year earlier, 6/10/2019, the stock closed at 2.37 and is currently at .88.
The 800 pound gorilla lost a couple of pounds
DMs remarks inferred that the price would rebound due to the hedge fund sell off being completed. A reasonable person would think that a short while would be over by now.
Off the cuff remarks by our Chairman are misleading to say the least.
JMO
CHicagoest