I keep taking for granted that new followers are joining all the time. I tend to assume that people understand you don’t “dump” companies who are scheduled to earn over $2/share, display incredible growth, fundamentals are strong, etc. Why then, would I wake up today only to open up my Twitter to see all these questions on $CCME. Like what happened?
Apparently CCME did a bit of a financing. An experienced investor would look at it and say for the most part it was a good deal, however the warrants did look a little desperate. Whatever the case, you simply cannot raise 30 million dollars in today’s economy without a plan.
I’m guessing, very much like $NEP, that CCME has a plan to make a financially responsible acquisition which should add significant value to the company.
The bashers are out in full force, they don’t care about “scaring you out of your shares”, but they do care about shorting the stock on any sign of weakness. These guys don’t read spreadsheets/numbers, they don’t care. From the looks of thing most of these guys couldn’t read a balance sheet or income statement anyways. They look at a chart, hunt for weakness, and as soon as they smell blood they pounce and say ANYTHING to make the stock fall.
So, instead of panicking and dumping, like many people did, I placed “stink bids” between $9.30, and $9.45 for my kids trust accounts. I got filled for roughly 30,000 shares, and now as I sit the stock is trading at $10.31.
Guys, let this be a lesson to you – don’t panic! If the story hasn’t changed, and the company has strong fundamentals then why on earth would you dump the stock!? This is a total amateur mistake.
No one expected a secondary, especially during a warrant overhang. There is nothing amateurish about accumulating the stock yesterday…
So I am now holding just under 150,000 shares in total. My trading account has 50,500 shares. This morning my trading account was down $50,000 on CCME, and now it’s only down around 20k. Not a big deal relatively speaking, let’s see what happens with the stock.
If you have any doubt on the size of balls required to be a long term investor then I suggest you read the blog I wrote “DO NOT OPEN UNTIL CHRISTMAS” — find that blog on NEP and SYNM, and you’ll get a very quick education on how things really work.
..and to the bashers, keep up the good work. We need your negative energy to create a larger short position, because when the numbers are revealed one of us will be right. Assuming it’s the longs, you’ll have given us enough rocket fuel to jump past $13. FYI, by my calculations the stock is still worth over $20.
BTW some loser is posting as “st0ckgod” on the yahoo finance forums. I post as “stockg0d” if there is any doubt. I have friends that work there, and they are dealing with it. If you see this guy pumping any stock (including this one!!) it’s not me. Be very careful what you buy and what you read on a message board.
Here is an image of my trading account position:
