ink500, I've also been in and out of the stock with much larger holdings up to 100k shares at times and may be going up to that threshold again very soon.
I was up to 100k shares at around this same period in 2003 and sold 75k of those shares once the stock touched $20. I added another 25k shares over the summer of 2005 and sold 25k of those 50k shares once the stock hit $25 in 2007.
I did indeed hold 25k shares all the way down to this same price range back in 2009, but only added 10k shares at that time due to the uncertainty surrounding the financial crisis. Those 35k shares became 5k shares after the 1-7 reverse split of May 2012. That's the amount shares I've held until recently.
I'm not blind to the fact that the company may need to raise additional funds for a major launch. The plan of adding shares at the right time and profiting from trade is always tricky. I'm hoping this time it's going to be another repeat of the 2003 cycle, which was extremely profitable. I added 20k shares at $2 and added 25k shares at $1.70 last week. My plan is to add an additional 50k shares if we get down into the $1.30.
Even if I'm wrong and there is another RS, doubtful now with the recently announced finance deal, I still believe there's value in this company going forward into this next year and beyond.
I've been in the stock since 2001 and went through some great periods of ups and downs. The low point was the 1-7 reverse split in 2012 and the highs of 2005 and 2007. I'm not naive, I knew the company would need to raise funds in order to launch. The good news is that they didn't need to perform an RS to increase the stock's price in order to do so. I'm feeling very good that this stock will see big gains over the next couple of years.
Rocktogold56 - Yes, I've always held 5k shares since 2001. We all know the history of this stock, so those 5k shares were much higher at times. I was up to 100k shares at around this same period in 2003.
Rating Action: Moody's downgrades Genworth (sr debt to Ba3); outlook stable
Global Credit Research - 05 Feb 2016
Approximately $4 billion of debt affected
New York, February 05, 2016 -- Moody's Investors Service has downgraded the credit ratings of Genworth Holdings, Inc. (Genworth) -- senior unsecured debt downgraded to Ba3 from Ba1, the insurance financial strength (IFS) ratings of Genworth Life Insurance Company (GLIC) and Genworth Life Insurance Company of New York (GLICNY) to Ba1 from Baa1, and the IFS rating of Genworth Life and Annuity Insurance Company (GLAIC) to Baa2 from Baa1.
I've been in this company since 2001. The main thing I'm concerned with down at these prices is another Reverse Split.
I think there are plenty of us waiting just in case that scenario plays out. I bought another 25k today, but I will be adding about 4 times that it we hit that lower target.
My charts say the downside is to $1.32, but I'm not going to fight you over 4 cents. I don't believe there is any sovereign wealth fund money in this stock, so I don't know why you tie this to OPEC.
Sentiment: Strong Buy
FYI, I"m getting that right off the 8k: The Partnership intends to actively monitor the bid price of its common units and will consider available options to regain compliance with the listing requirements, including such actions as a reverse stock split and/or transferring to The Nasdaq Capital Market.