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GLA - EP
5.26
Yep... it can.
Crunch time decision might come today for me.
If the rise continues, I break even today.
My worry is that with the anticipated vote to issue the millions of new shares, the subsequent dilution will see an initial sell off and SP drop.
And then I will be back into -50% territory again.
Inversely, the crazy run could continue but at some point it’s going to need to take a breather. The question being: where will the point of inflexion be?
Any thoughts from the trusty SUMM community?
GLA - EP
Hi EP - Yes it is a dilemma & it was at this point last year that I sold when just in profit & I am glad I did.The issue is the 'rights' issue & at the current SP they are a bargain but unlikely the SP will then hold.I have a very small holding & currently 191.99% up value £485.19 & I am thinking of taking up the rights issue.My son's shares are currently valued at £2k & current loss £2k so needs a further 100% to break even.
I was in the same dilemma as you & as I said Sold I will suggest to my son to take up the rights issue as a opportunity to get nearer to break even & then Sell.
As I see it the SP is being driven because of the lure of the rights issue all details are per recent RNS's.
I am not sure this helps but is my current thinking.
My final point is that we have all seen Summit going up & down & not long ago it was below a $ on balance I would Sell in your position for me my investment is so small it is worth the risk of Holding.
I was offline for the last hour. Hopefully it will peak back up after the early burst upwards
Thanks for the insight and good luck to your soon
- EP
Looks like some profit taking before new year.
Ok here is my 2 cents.
The market knows well the dilution coming but still the sp went up.
Also we have two springboard points to come.
1st is China 3rd phase trial news to come when finished.
2nd will be our own 1st phase trial news when finished.
A while to go but think of it...if our 1st phase fda data matches China 1st phase trial data ( already published ) then the market in the west will be convinced that China data is trustworthy.
This should give the fda process a headwind as regards investor confidence.
The issue is how much dilution can this news balance out?
Don't know the numbers yet.
I need another 5 bucks to break even on 10k in.
But you know what...I'm waiting it out .
Wasn't worth anything a few months ago.
Hi Ollieh - A pragmatic approach. Regards Chris PS I think my son may well think the same.