How much fun can you have in 30 days watching 36,000 shares melt away? My stop loss kicked in at 6.50 for a 100,000$ loss. The harsh school of investment carries high tuition. Good luck to all, I never want to see or hear of this company again!!!!!!
I feel your pain as I'm down over $10k on this--it was about 40% of my stock holdings just a couple months ago. Haven't sold because I'm still convinced there is a good business model here (I used to work in the industry and I know a lot of the people at this firm). However, I just can't explain what has happened over the past two months...there is just no bottom it seems.
One of their primary business models is door-to-door energy sales to residential customers. You can see how this would would inherently result in a % of complaints from people that don't understand what this is or why someone is knocking on their door in the first place---they do a lot of volume so there are complaints. However the company is first rate when it comes to having the proper controls in their sales process to ensure people are not misled; e.g., multiple verifications in writing, automated followup verification phone calls, badges that say "I am not the utility", etc. They were indeed burned by the AG in Illinoise a few years ago. They did the right things to change the process. It's not a scam, but youtube is always the truth I suppose? Don't know.
There is a lot of talk on the internet about this company(Google search Just Energy is a scam). I was on You Tube the other day and was overwhelmed by all of the negative comments leveled against this company. Since you know a lot of the people at this firm, what is your opinion about them? Do you think there is any merit to these claims? Thanks.
Best of luck to ya.
Ouch. Sorry to hear about that. You're definitely right about the market having a high tuition fee. I learned my lesson my years ago with another high divy stock...CEP. I originally bought into that stock at $18. Look where they are today. Good luck.