exalted orb eternal orb schreef op 7 augustus 2020 12:02:
Hi, I do not speak netherland, please use google translate (I use it to read this thread). I was redirected to this forum from another place. I bought the URW listing in Australia when it rallied in june thinking it would go up more. After it dropped I thought it would recover and believed the trend was up (as the american market was clearly in an up trend and I erroneously believed market laggards all across the world would catch up). So all this time I held against my logic & reason, despite seeing a clear down trend, and watched my losses increase.
I have learned from this forum it's due to shorters hoping URW will do a capital raise when the LTV approaches 60%, and hence $0 is the target price, and if a capital raise is done at these absurd prices it'll severely dilute current shareholders causing prices to go down even more. Am I correct?
I'm sitting on a huge loss right now but it's making lower highs and lower lows every time, and looks like it will break the strong support of $41, who knows how low it'll go after $41 is broken since $0 is the shorter's target. Should I just cut my losses now? This is the only share I've seen that's went backwards from March 23rd lows, retraces all the way back to square one, and is very likely to break the bottom and flush down.
Thanks.