Bought several K more shares today at $8.5, and also a few days ago at $8.65. Not going to try to time a bottom and wait to see if we get back to the $8.3's of a few months ago. Div yield is great now at 10%+.
Wake me when a partnership agreement (or lack thereof) has been announced, or the stock IPO's. Until then I'll take my high-yield quarterly divs and cross my fingers that JF stays good to us. I suspect in 6 to 12 months, we'll be looking back at these mid $8's and wish we bought more.
Keeping in mind I'm a big bull on this stock... I also don't see any reason why it couldn't quickly go to 8.3 (eight point 3) in the near-term, especially as part of greater market weakness, maybe Brent dropping further, etc. That's less than 2.4% from today's level's, not exactly a big move. And it was briefly $8.3's not very long ago. Keep in mind this is a low liquidity stock, traded on the OTC. If a large entity wants to dump some shares, there may not be anyone to immediately jump in to buy and keep the price steady.
But this isn't something you should dwell on, rather just keep it in mind so you don't have any potential surprises that encourage you to make a bad move, like selling. I don't think it's going to STAY at a lower level if it went there. The question you should be asking -- where could this stock be later this year? Very easily, $10's to $11's. If it went to $10.75 by end of the year, and to me that's realistic with an IPO... That's a 26.5% jump from today. Not including the high-yield divs you're receiving while you wait.
turbofever: Sounds like a good plan - I have to admit the dividend has been pleasant to receive and reduced my cost basis considerably... Did you make your initial stock purchases prior to the reverse split or afterwards?... Our cost/share should be relatively close now... Aside: The latest newswire indicated that an unbelievable $61 billion dollar outflow has occurred in June alone - (that money is going to have to go somewhere!) - still see 4/5 weeks of continued volativity; projected ranges on bond yield (which is at 2.5% now) is low-balled @3% with a maximum short-term high of 4% ... Good Luck...