I have been following this compnay for over 3 years now and have moved in and out several times and made a lot of money. But with the numerous management and accounting changes, lack of direction for a solid business model, company silence, and low daily volume of their stock, I believe the PPS will drift slowly down into the low 20's. I would then look to start a position at about .20-.23 and maybe average down if it falls another nickel. And before anyone thinks or says that it can not and will not go that low, think again. It has been there several times in the past and will be there again.
Always BUY VERY LOW and SELL VERY HIGH.
This is just another day-dreamer. If it drops to 20s, the new chairman will buy out this company. Why not? Cash is 44 cents per share and you get two businesses for free. Remember, the chairman has a fund management background. Xu may have already sold some shares to Kyle Jiang's fund.
Well if you have a stink-bid in
for some months
you can for mathematical causes
get a shortlived "wedge"in the
stock-price for 0,44
You may even get someone with a
fat finger giving you a free lunch.
I say this is a buy and target
I'm not so sure about lower, unless the market pulls back further. But as I've mentioned, I'm not so sure CNOA is going much higher in the near term. Probably more of a sideways trade unless the market goes back into the toilet.
Unless your idea of L/T is a month or two, than the fact that you maintain a L/T sell rating must mean you do not think the SP will be any higher by year end. I beg to differ!
S/T it may go lower, it may go nowhere or it even may go higher. L/T I'm betting on higher.