Stock is on Fire - 80% up this month

SecretsSecrets Posts: 59 Bronze ✭✭✭
Anyone notice the stock price? It's getting back to back daily gains of 10%+ on massive volume. This month alone its up from $2.35 and just this week from $3 to $4.40 today.

Obviously that $2.35 was at the end of a long decline, but this is a massive increase with no real news in a short period of time. Daily trade volume is 5x the average too.

Reckon this is some institution buying in or is there something going on that we don't know about yet?

Comments

  • GoldIsCurrencyGoldIsCurrency Posts: 1,808 Gold ✭✭✭✭✭
    @Secrets I disagree on no news. Goldmoney had their first Qtr of posting Earnings. That is HUGE news for any company. It's when the skeptics take things seriously. Also that interview with Peter Schiff and Joe Rogan helped to spread the word of Goldmoney.

    I am very happy the stock is moving up closer to a proper valuation.
  • BigMouseBigMouse Posts: 138 Bronze ✭✭✭
    @Secrets i noticed the stock price taking off after 8/25 announcement. People might expect news from coming annual general meeting(9/29). I am also wondering if this has anything to do with Darrel stepping down. I bought stock all the way down to $2.35 weeks ago but keep finger crossed. Will see if the trend can hold. I will not sell for sure.
  • SecretsSecrets Posts: 59 Bronze ✭✭✭
    @GoldIsCurrency That was good news but it barely ticked up after that. It was a full 8 days before the first step up and weeks before the real move.

    I bought a bit more as it came back up over $3 but didn't get in lower. Was thinking about it, but got spooked by the steady and consistent downtrend. I can't see Darrel stepping down as a positive driver, but I could see the Crypto holdings giving it a bump. Maybe the comment about holding 17,000 bitcoins at one point or the fact that it is an easy exit from Bitcoin to the Gold Safe Haven. Anything connected to Crypto at all these days is leaping in value so maybe someone thinks holding coins is going to cause surprise profits. Of course, one look at Roy's twitter feed should quickly dissuade anyone who thinks this is a crypto play. Peter Shiff said the other day that the Whoppercoin was worth more than Bitcoin because it was backed by a burger, lol.
  • TexTex Posts: 197 Bronze ✭✭✭
    and don't forget that the stock follows the price of gold.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,808 Gold ✭✭✭✭✭
    @Secrets I hear you but sometimes it can take a few days for news to set in, especially after the stock had been slaughtered coming into and through the summer months. It was an ugly chart at the time of the news which made it not so appealing to jump on shares on the 15th. Keep in mind the volume kept ticking up since the news hence the trend and increase in SP. It has been a long time since I have seen volume like this coming into the stock. Hopefully this trend continues.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,808 Gold ✭✭✭✭✭
    @Tex You are right for some reason days when gold has moved up or down I too have noticed a correlation however the price of gold should not affect the price of Goldmoney shares at all. Goldmoney is a fintech company not a gold miner.
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    .5% of $1,300 ... is greater than .5% of $1,200 ... is greater than .5% of $1100... etc

    If the same amount of ozs or ggrams are transacted then GM gets a bigger nominal benefit from the sale. Increased interest and flow on the platform would multiply or exponentiate that as well. We've had both recently, increasing price and increasing interest/flow.

    These are two inputs for my valuation and outlook as an investor.

    You also have mean reversion in the works here.

    All of that said, there are big-time traders out there with lots of fiat and algos to move around stocks ... for better or for worse. So just remember, regardless of fundamentals and profit... stocks are risk assets. GM seems like an asymmetric long-term play based on geopolitical and financial risks, but XAU/XAUMF is equity/stock (which is definitely different than commodity money stock/Gold).
  • PinkdogPinkdog Posts: 511 Silver ✭✭✭✭
    Great to see the short sellers getting squeezed. As long as Roy and Josh keeping executing, I will keep my shares. Can't wait to see where we are 10 years from now.

    I'm planning to attend the Annual General Meeting on September 29th. Any one else planning on attending? @Goldmatters will we see you their? Does anyone want to meet up for a beer afterwords?
  • GoldmattersGoldmatters Posts: 4,016 Admin
    Love your enthusiasm @Pinkdog! If I am in your neck of the woods I will most certainly look you up! Though I have to tell you these days I'm only drinking Red Bull :).
  • RocketDogRocketDog Posts: 759 Silver ✭✭✭✭
    @GoldinCurrency I can see an increase in the price of gold causing a rise in the price of Goldmoney stock in that, the more the price of gold goes up, the more the average person will take notice and consider opening an account and either saving or transacting in gold and that should increase profits of GoldMoney.
  • GoldIsCurrencyGoldIsCurrency Posts: 1,808 Gold ✭✭✭✭✭
    @RocketDog You are right, gold rising in price helps. I am of the thinking a sizable portion of this recent activity should be contributed to the interview with Peter Schiff by Joe Rogan which now has roughly 800k of views in just 1 week. Most viewers probably never heard of Goldmoney before. I would presume a portion of those viewers would not only see the attributes of owning gold through Goldmoney but also owning the stock.
  • TexTex Posts: 197 Bronze ✭✭✭
    It was a good mix of both. Goldmoney is a gold fintech company. They do hold gold on their books and gold is their main money making product. So as the price of gold goes up, GM's value goes up and vise versa.

    I'm nervous about the 2nd qtr results. If they can deliver everything that was advertised about the holding account back in June by the end of the 2nd qtr then I see growth easily taking off and the value going up in the 3rd qtr.

    My question is: What is going to happen when all the new sign ups find out that ACH in and out, PayPal out, and cryptos aren't available. I really don't understand why, for the past 75 days, they advertise services that they don't offer. It ultimately hurts confidence and trust and is so easy to prevent. A simple (Coming Soon) notation to those services will prevent the flood of frustration that is going to happen. With all the brilliant and awesome people in the company, no one had the foresight to think of that?

    Looking forward to getting past that growing pain and on to the next.
  • RocketDogRocketDog Posts: 759 Silver ✭✭✭✭
    I am guessing (and totally guessing cause I have no insider info but I do work in the tech industry) that they have reached a critical mass of "issues" and that they are scrambling to get things fixed and working. But on the Customer Service side, the delayed delivery of features, right at the time of renewed interest in gold due to rising gold price, is causing them a backlog of cataclysmic proportions and they are probably all working as hard as "one-armed paper hangers" to borrow a really old and slighly ADA-noncompliant idiom.

    Roy Seabag did say that they are changing their CS structure and hiring. Hiring and training also takes a lot of time and effort.
    I would hope that the customers who can afford to be patient will give them a little time and space to work the bugs out of their process.
    Hopefully, they are also hiring some Technical Writers to update their self-help portal with useful, applicable messaging on current status.

    The company I work for actually has a status webpage that tells the users which components are working (green light) and which are being serviced or fixed (yellow light) and which are known to be down (red light). Then they trained the users to check there first. And that has cut way down on customer service requests.

    A simple status page might help GoldMoney lower customer service requests and ease the worries of customers who are frustrated more with the lack of communication and a lack of correct information than they are by the delay in services. (Of course that also takes time and resources to build, but if it is text-only, nothing fancy, it might be worth the time and effort.)

    I am confident, based on my experience with this company so far, that they are honest, and nobody's money is going to get "stolen" but your actions and options may be limited for a while until they get the accounts working as planned. And if gold floats back down to around $1300 for a while you'll still be able to get in at a good price.

  • BigMouseBigMouse Posts: 138 Bronze ✭✭✭
    @Tex I share your concern. Let's hope for the best!
    @RocketDog Well said! you just give me more confidence! I enjoy reading your post!
  • AEtherAEther Posts: 8 Tin ✭
    Agree with the above views.

    GM should think more like a customer centric service business as opposed to a "fintech" company.

    If you break trust with customers you are on a downward spiral.

    Hope the clever guys at the top have the foresight to realise and address the poor customer service and lack of reliability.
  • mr1mr1 Posts: 375 Silver ✭✭✭✭
    Pinkdog said:

    I'm planning to attend the Annual General Meeting on September 29th. Any one else planning on attending? @Goldmatters will we see you their? Does anyone want to meet up for a beer afterwords?

    Is the General Meeting open to anyone? Or is it only open to shareholders as of the Aug 15th date mentioned in the press release?
    https://www.goldmoney.com/corporate/news/goldmoney-inc-announces-2017-annual-general-meeting-and-officer-appointments

  • GoldIsCurrencyGoldIsCurrency Posts: 1,808 Gold ✭✭✭✭✭
    @mr1 I am sure it is fine. I have attended before when it was held in the TMX building. I don't recall anyone asking me for anything in particular to prove I was a shareholder. I was the casual guy in jeans among the crowd of suits. I think it is a great idea they are having it in the flagship branch this year.
  • GMONEY1GMONEY1 Posts: 426 Silver ✭✭✭✭
    A gold or silver dividend-- even if it is .001 gold or silver grams-- would be pretty amazing in the near future.
    It'd be a good exercise to make sure the "plumbing" works for future success and distributions.
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