NCIB
GoldIsCurrency
Posts: 1,813 Gold ✭✭✭✭✭
When is enough enough?
Does this company work for the short sellers or shareholders?
Get on that NCIB and stop messing around.
Does this company work for the short sellers or shareholders?
Get on that NCIB and stop messing around.
Comments
Update: "Notice of Intention to make a normal course issuer bid"
https://www.goldmoney.com/corporate/news/goldmoney-inc-announces-normal-course-issuer-bid-2019
Honestly beside myself with this management team.
I have owned shares from the beginning. There has been numerous changes in direction for the company. From BitGold accounts, to Goldmoney Personal and Business Accounts. From a company that was aiming to disrupt the Payments sector, to a Goldmoney savings account. A failed Block Vault chapter in there as well to a Goldmoney China that was very exciting, to not happening at this time scenario.
In the beginning with BitGold the company was doling out roughly 100k a week in free gold for customer sign-ups as this was the initial marketing model. Money has been spent on various directions with the best investment value being MENE. I am happy with the Mene business model however I would like to see it Marketed and grown.
I am not the only one that is frustrated and considers this XAU share price absurd for all the value under the Goldmoney umbrella. A few weeks ago I saw tweets from Josh Crumb in regards to the exact same thing. Why is the market not seeing any value, why is the share price here...
All I am asking is for something small like 10,000 shares a week. Something to SHOW THE MARKET. Hey look at us as we are undervalued and we are showing you that by buying some shares at these levels. You start buying back just a mere 10,000 shares a week for 2 months and watch the market wake up. That is PEANUTS of expenditure. I think it is the very least Goldmoney can do for their shareholders.
Will they spend some peanuts on behalf of their LONG TERM shareholders? Crystal intelligence only goes so far. I sure hope they have enough street intelligence to wake up. They need to show Mister Market.
What is the sense of having an NCIB if they are just going to sit on it and do nothing? This management team needs to signal MISTER MARKET by buying 10,000 shares a week. I am not asking for the moon here. Just 10,000 shares a week. That costs peanuts to signal the market.
After the last Equity Raise (which was unnecessary) the share price has performed terribly. Goldmoney shares got over diluted and some of those shares went into terrible people's hands. Yes I know more than I should about this. That equity raise was done at $4.30 per share for nearly 7 million shares to raise 30 million cash that wasn't required. (late 2017)
There are no excuses for management to take peanuts from that 30 million to buy a measly 10,000 shares a week (my personal suggestion, quite frankly they should be buying more) to show the market that this company is worth more than $2.20 a bleeping share. All I am asking them to do is signal the market. I am not asking them to buy millions of shares back. 10k of shares a week to wake up the market is nothing. At this point it is the least they can do for shareholders. My patience is worn as everyone can see. I am not the only one thinking what I have posted above. Plenty of investors have sent me private messages through twitter in regards to this. I am just not the shy type to sit there and wish like others are doing. I am to the point, honest, vocal and forthright.
Sorry I used the word, "impatient". Poor choice of words. Maybe words like, "disgruntled," "dissatisfied," "unimpressed," and "frustrated" would have been better. I would sure like the stock to go up at least a buck or two (or five). But I have only had mine for two years and probably don't have as much as you do, either. It does seem strange that a company with such good earning....and a product "good as gold" has such a poorly performing stock.
You are right, it is odd the stock performs this poorly. I will give it some more time and see what happens.
"GM stocks are currently valued more in line with the stock market indexes more than the physical gold."
Yesterday XAUMF lost 2.49% while the gold mining companies, junior mining in particular, rose:
https://etfdb.com/etfs/industry/gold-miners/
That enforces my belief that GM is perceived as a fintech company, not a bullion business. GM must change hats... somehow.
Meanwhile Mackie Research comes out yesterday with an $8.25 price target for Goldmoney shares. So the short sellers paint the close red. Shorts owning the sp movement.
Ride the gold rally with Goldmoney stock, says Mackie Research
https://www.cantechletter.com/2019/06/ride-the-gold-rally-with-goldmoney-stock-says-mackie-research/
You can bet your last dollar if gold comes back down we will be riding that "rally" down. No rally up but we will see the down. No NCIB action from Goldmoney. Not good. Really not good.
To be able to buy some of that $4.30 diluted paper back at $2.20 you would think management would see the value in that while also supporting their shareholders like shareholders have supported them.
Thanks for sharing the Mackie Research link. Long term GM will ride the gold rally, no doubt.
I pray the GM board will decide to buyback those 10,000 shares a week ASAP, only to see your relief posting
That is what happens when management can't follow simple instructions.
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Wake up Roy before you lose all your investors.
What would your idol Eric do?
Signal the market super star.
Warren Buffett: "Be fearful when others are greedy and greedy when others are fearful".
I'm fearful about GM shares because GM wears the fintech startup hat , you're fearfull about GM shares because they don't do the NCIB. Maybe we should act against our feelings. Maybe Buffett buys GM shares now to sell at 200 USD/share in 2021.
"There is a substantial difference between people who are investors and people who are owners of businesses. No owner of a business wakes up every morning asking himself what he’s worth then why should an investor if he actually believes he is a part owner. And if he believes he is a part owner then his first goal is to make sure the company survives, has a great product, a happy workforce, stable suppliers and a delighted customer. Now to think like that an investor needs to have time preference which is different from other people." -Deden