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Entertainment Gaming Asia Inc. Message Board

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  • kidecar kidecar Nov 25, 2012 11:14 PM Flag

    End Of Year Tax Selling Will Sink EGT

    Tank-

    You have a very strange definition of "Loser Stocks". On 1/4/2012 EGT was closed @ .92 (split adjusted). Today is is 2.11

    Not quite sure how a 2x+ qualifies as a "Loser" for 2012 - especially when you compare it to the overall market (pick ANY market index and compare).

    I think that you math is WAAAaaaaay off and if we see any tax selling it will be far less than a 50% impact on PPS - too muich has improved in the business model over the last year to see that much of a fluxuation.

    But, if you REALLY believe what you post is true, feel free put your money where you mouth is and short EGT *BIG* on Monday and hold until it reaches your 1.00 target on 12/31. Please post when you do so we can track your 'success'.

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    • Kidecar-

      Lots of times I agree with what you post, but this time I don't. Most of the volume in EGT this year occurred in May-July when the average price of EGT was above $3 [adjusted price]. To me that means there are a lot of investors that are 'under water' on EGT now. I do think there will be end of year tax loss pressure this year.

      I sold half my holdings in late October at $2.39 in anticipation of that. My cost basis for the rest of my stock is only $1.04 so I will hold that through the expected short term tax loss selling. I might buy again in mid January.

    • Kidecar...the .92 cents was before the reverse split. EGT is equal to about .52 cents prior to reverse split.

 
EGT
1.85-0.16(-7.96%)May 27 10:03 AMEDT