It would go lower because it can. Support was $6 and breached means probably gonna go in half again and become a penny stock. I scalped a few bucks off this but sold into the little rally it enjoyed.
Can't even count the number of times I watched $10 stocks turn into $5 stocks and nine times out of ten the damned things end up trading under $3. If you like it at $5.5 you will love it for $2.50 and be ecstatic when it reaches 0.50! The biz model sounds good but they have fierce competition in Chinese auto industry. Is definitely a long-term investment play and not a scalper. Also subject to currency risk.
jhamlin24
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Agree, I bought today.
RossDrennan
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I’m torn here, because I think it might have slightly breached support. But I’m not convinced support is broken yet, but I feel this may be a pause before venturing further lower.
That being said, I considered going long here but ultimately decided against is considering I feel long term bearish on SPY... and taking China US future trade woes into account.
Can't even count the number of times I watched $10 stocks turn into $5 stocks and nine times out of ten the damned things end up trading under $3. If you like it at $5.5 you will love it for $2.50 and be ecstatic when it reaches 0.50! The biz model sounds good but they have fierce competition in Chinese auto industry. Is definitely a long-term investment play and not a scalper. Also subject to currency risk.