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GAMCO Global Gold, Natural Reso Message Board

  • monteros2@sbcglobal.net monteros2 Mar 11, 2013 6:39 PM Flag

    Seriously...

    What the heck happened that this stock would drop .21 today and down .10 after hours?!?!?

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    • Strange action, especially considering that GNT help up well all day. Anyway, I stepped up and bought some GGN @ 12.39. Will now get the dividend. X-day is 3-12.

      Kel

      • 2 Replies to keltus1952
      • Keltus,
        Yes today's price action was indeed strange. Especially considering that GDX and GDXJ were both up more than a full 1% today. I sat and watched the live trades for awhile this afternoon. It looks like someone, or some institution was doing some serious selling. Note the 3X average volume today.
        This hard core selling could be due to anything from institutional re-balancing (which would not be a big concern to rest of us), to perhaps someone "in the know" who is selling NOW before a future announcement of another dividend cut.
        Let's hope it's not the latter. Like you, I added more shares to my position today at 12.39. I had lower bids in as well, but none of those got hit.
        As we all can see, and as noted previously by another poster, shares were selling for as low as $12.30 in the After Hours tonight. So... the selling continued.
        Tomorrow will be another day, but, as of tonight, it looks like GGN, at $12.30, is trading at nearly par to book value, which is a rarity, and IMHO a rare opportunity to continue to build a position, at least based upon current valuations. If GGN's price drops below book value this week I won't be unhappy as I will continue to add.
        Let's see were we go from here.
        Best regards, CC

      • I scare the stockholders into selling today.. That what happen. to the share price. everyone listen to me when I post sell.

 
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