Remember that?? another con to prop the stock price. Weighted average number of shares (for diluted earnings per share) (D) = (B) + C) 28,780,164 28,921,147
Basic earnings per share as per IFRS (A) ÷ (B) $ 0.24 $ 0.54
Diluted earnings per share as per IFRS (A) ÷ (D) $ 0.24 $ 0.54
Shares issuable under share exchange agreement for non-controlling interest (E) 7,005,434 7,005,434
Number of shares outstanding including shares for non-controlling interest (F) = (D) + (E) 35,785,598 35,926,581
how many longs are trapped?
Use the math, you now need substantially more of a % gain than you have in losses just to break even.
Wall Street snookered you with the quick rise to $11 in early April...they were selling to you and banking some serious coin. There was no reason for the stock to jump 30% on an earnings announcement, but the ticker hit the % gainers for the day, so retail jumped on board...then they did the same thing to you last Friday....runnnnnn it up on anticipation, trap you over the weekend, then dump it on Monday. Now you're in the mindset to "average" down because you've convinced yourself that this is a $25 stock...no brainer, like taking candy from a baby. The whole time, those in the know knew exactly what was going "down"...the stock.
they sucked the last one's in on Friday, cheng ho is gung ho....sentiment is overwhelmingly bullish for the upcoming release. wall street will eat you all alive. earning will be great, but not good enough to keep this from tanking. wall street doesn't believe anything this company says, they've lost all credibility. This stock has lost 40% over the past month for a reason, smart $$ has sold to dumb. enjoy everyone!
doesn;t even get you close to the 52 week high or the trendline. the last piece of "great" news got you to 10.80...a lower high and the top of the channel on the 3yr chart. FAIL.