Goldmoney stock CARNAGE!? - and - Where is Josh Crumb?

LGJLGJ Posts: 68 Bronze ✭✭✭
Holey Moley the last few days have been a tough pill to swallow in regards to Goldmoney stock price. From $1.50 ish to $1.15 USD in only a few days. Especially when you consider those $5 highs almost a year ago. What is going on? I'm no market guru, but the company financials looked ok to me. Also, Roy just tweeted today that the company has plenty of capital.

Just doesn't make a lot of sense why the stock price is tanking so hard.
At this point I'm in it for the long haul. Selling would be a huge hit, and I don't need the value for now, so I'm gonna HOLD. Anyone feel differently?

ALSO, I heard a rumor on reddit that Josh Crumb left Goldmoney? We can't afford to lose that kind of brain power. Anyone know what is going on there? @Josh Crumb ? Hopefully it is a false rumor.


  • GoldmattersGoldmatters Posts: 3,944 Admin
    The news regarding Josh Crumb is in fact correct as per the PR released by Goldmoney:

    We won’t know much more about it until when\if he releases a statement
  • LGJLGJ Posts: 68 Bronze ✭✭✭
    Thanks for pointing that out @Goldmatters . I found this in that PR Release you linked.

    "The Company has announced the resignation of Josh Crumb from the Board of Directors with effect from December 4, 2018. “It is with great regret that the board has accepted the resignation of Josh Crumb as a director of the Company, which he has served with me since the inception of BitGold over five years ago,” said Roy Sebag, Chairman. “The board and staff are thankful for the meaningful contributions Josh has made, and we wish him well in his new endeavors.”

    Seems like a loss for Goldmoney for sure.
  • Surely the stock decline and Josh Crumb leaving have much to do with crypto.
    There was a Kiser Report interview where Roy and Josh said many people don't know we have a large position in crypto.
    I never understood how they accept any crypto currency in existence (they immediately sell it?)
    Josh still seems very optimistic about Bitcoin. Hopefully this means Goldmoney is no longer betting on crypto and focusing on blockchain prescious metals payments to replace crypto.

    But this underscores our concern: where is the young, hungry tech talent wanting to hack the monetary system with digital gold banking?
  • RocketDogRocketDog Posts: 697 Silver ✭✭✭✭
    I have "quite a bit" of XAUMF stock at least as far as my other holdings went. I have sold all my other stock. I am hanging onto my XAUMF. I think it is possible that this company will do quite well in a recession. But I am afraid we will have to ride out the deflation of the stock bubble, and then be "discovered" by value investors when we are still thriving in the recessionary chaos. (I could be wrong.)
  • GadsillaGadsilla Posts: 130 Bronze ✭✭✭
    It's really irrelevant as to what happens short term, what you've got to look at in terms of precious metal assets is potential for growth during recessions. $1.15 - 1.50 doesn't matter right now as there aren't any strong market force drivers, it's just drift really.
  • BigMouseBigMouse Posts: 113 Bronze ✭✭✭
    The stock price is painful to watch these days. I am not selling for sure. Maybe I am a fool. Time will tell.
  • GoldmattersGoldmatters Posts: 3,944 Admin

    I haven’t sold any shares either.

    There are others that are buying shares.
  • LGJLGJ Posts: 68 Bronze ✭✭✭
    @Goldmatters Good to see that @Roy Sebag has confidence enough to buy more shares. I'm holding on as well @BigMouse @RocketDog
  • Midas65Midas65 Posts: 24 Copper ✭✭
    It is tax loss selling season. A few people may have made money on other stocks and it may be in their best interest to sell a stock that they purchased at a much higher price.

  • Lone_StarrLone_Starr Posts: 104 Bronze ✭✭✭
    Looks like Josh moved on to Abaxx.

    Josh Crumb 🔸
    Founder Abaxx-tech & Abaxx-exchange |

    I wonder if the stock drop is due to him selling his shares. It's a complete guess but would fit the time line. Again its a complete guess.
  • BillybetaBillybeta Posts: 47 Copper ✭✭
    good to see roy is buying. I have been frustrated as well but thats the game. stock is trading under book value and at like .28 price/sales which is insane...they have low margins which means price/sales should be on lower side but thats extreme. stock could triple and it still be value. Big picture i still think precious metals demand is bottoming here and will turn back up. Gold chart looks great on multiple timelines
  • BigMouseBigMouse Posts: 113 Bronze ✭✭✭
    @Goldmatters thanks for posting Roy's transactions! I am going to pick up some shares now.
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