...."Positioned to become the largest scrap steel processor in China, China Armco Metals focuses on meeting the steel industry's demands with smart, sustainable, and cost-effective approaches to scrap steel processing, as well as metal and nonferrous metal ore procurement."
It takes a lot of courage to buy into and hold this stock in the face of the pps decline, but I know a good thing when I see it. The key thing to remember here are there are as far as we know no institutions, or big analysts or large funds watching this stock right now, if there were they would be stepping in to hold up the pps right now. In the face of the recent news and considering the majority of people who have bought in here are underwater, there's obvious a lot of small investors just desperate to cut their losses and are sick of the stock. If management had been buying on the open market instead of buying shares directly form the company the buying pressure probably would have boosted the pps over a buck. But they are buying, and buying like never before, part of me suspects they bought form the company so they wouldn't boost the pps before they got a lot of shares. But that is just my suspicion. We saw threats of a lawsuit against CNAM before.. and it never went anywhere the guy doing the lawsuit dropped the case, I think this stock attracts ambulance chasers. But someone might have a legitimate concern management is trying to get too many shares too cheaply, but if management is buying at .50 - .33 than i'm buying too.
If you have the guts to hold it though earnings, I'm sure you will be rewarded. If you are afraid to buy now, then just wait till before earnings and make sure you buy in before, you do not want to miss this, some of the chinese reverse mergers are rallying and jumping up 100-500 even 1000%+ lately, the scare is coming to and end.
I -emailed the company a few days ago (christina) and she repsonded very timely to my question, OMAR I beleive you are 100% right, small investors are scared (low Volume) , shares mostly held by insiders, no instituions which means little support, and things are turning the corner with the LICENSE. Good LUCK but I have loaded up for the rise.