This company and the big guys behind the stock is not trustable anymore.
-How come GCY didn't organised a trading halt before they decided to contact the instos for CR? at that time the share price was always above 43c. The company leaked news causing inside traders dumping the stocks down below 40c. Then a trading halt came late for the ridiculously low priced CR and eventually crashed below 30c. What is wrong with the management? who must have done a bad job on the budget/forecast or something seriously unexpected has gone wrong? Why the company is willing to do a CR at multi-year low? Did they get forced to do so by someone/something? Why not earlier?
By looking at the chart, the stock has been pulled up during 2015-2016. Since then the instos started to distribute shares and take profits from the smaller guys. After the first gold poured this year they didn't move the stock up, instead, started to weaken the stock, then crashed it and organised a CR for short covering.
Now when the stock is trading below the CR 30c price and started to sink further, they give out news and a trading halt for exploration results, in order to give support for these inside traders' 30c.
Well, these instos will start to take profit again from the smaller new buyers once the share price is above 30c. I won't treat this stock as investment now, hope I can trade out this hole.
GCY Price at posting:
27.5¢ Sentiment: None Disclosure: Held
