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Almost 10% drop this morning, and a spread of 30%. That's what you call a bloody nose.
Still, we've got a long way yet to go.....0.5p looks more likely every day.
Another 6% today
SGI is as exposed as most to the adverse winds that are now blowing over the market
In theory SGI should be well placed to benefit from the negative 8% interest rates (BOE interest rate minus inflation rate) which eats away their debt, but it doesn't help that their debt pile keeps growing. Collectables have been useful hedges against inflation in the past but I wonder whether that will be the case this time.
"SGI is as exposed as most to the adverse winds that are now blowing over the market"
Just as it pegs all it's hopes to NFT's, there's become an appetite for income generating real assets and the demographic clock keeps ticking for their declining core business. The debt pile keeps growing, but it is out performing the market in one way way, it's declining in value quicker. Guess that's what the Pearlster meant by "share of the year".
I hope you followed my advice on DARK Pearls? You were hot to tip it at 420. Still a buyer now? I suprised you aren't filing your boots here...I'd wait til it get's to 0.5p
The NFT market has collapsed...has no one told SGI?
https://www.independent.co.uk/tech/nft-sales-elon-musk-b2071204.html
My algo is pointing to this being down another - 5-6% today. There's sometimes a lag, but it's been pretty accurate up to this point. Not a recommendation.
So far as the magenta is concerned doesn’t everything depend on there being a workable market for the pieces post purchase in which everyone has confidence? In the absence of that, the unsold pieces are dead cash.
And the -40% decline in consumer confidence. That's going to be a big issue, people on fixed incomes, of pension age, will be effected and there's going to much less interest in "dead" money assets. I'm still at 0.5 target.
I've just been having a look at showpiece. I'm not confident in the concept as a business but feel this Warhol will be very telling. SG have a database of clients who are interested in stamps and coins via Baldwin's. They don't have a database of art collectors so who will they market thi
Sorry fat fingers
How will they market the Magenta? They aren't exactly setting the social media world on fire (1500 odd Instagram followers). It feels more and more like the idea was dreamed up as a way of justifying the Magenta purchase. I don't see how this helps SG in anyway. Plus it's so public they really can't be making much margin.
"My algo is pointing to this being down another - 5-6% today. There's sometimes a lag, but it's been pretty accurate up to this point. Not a recommendation."
Bang on the money again.......0.5 still my target.
(-6.45%)
I'm expecting the price to collapse from this point on.......