I sold my gmv shares today, have held them for a few months and have sold at a loss. I have a few concerns about the company but the main reason I have sold is that I am punting that the approvals might take longer than anticipated (these things often seem to). If it happens that my gamble is correct then I may buy back in at a lower price. My thoughts here are less relevant to the long term holders than to those with less conviction.
1. Yacov seems to be the real deal and in my opinion, honest.
2. The tech is great and approvals as a medical device will be what sets it apart if/when they are granted.
3. Yacov is not very savvy in terms of market relations or the ways of the asx. The timing of his most recent purchase looks bad in light of the research report coming out when it did. I would like to stress that imo yacov is simply a high conviction owner operator, not anything less honest than that. Nevertheless the purchase was not well timed.
4. A cynic could claim that 3. is the reason gmv have had to come out and distance themselves from the report and the financial claims or assumptions in the report. I am not so cynical, which gives rise to 5.
5. For whatever reason they seem to be backing away from previous information about possible sales etc. This could be purely asx induced financial conservatism but it makes me a little uncomfortable.
6. The way the last purchase by yacov took place was odd, line wiping small sell orders and sending the sp significantly higher. Why the urgency? Why not purchase in a slightly more savvy way and get the shares more cheaply? Maybe he simply didnt like seeing the sp so low? Either way, if the wait for approvals drag on for a bit the sp is going back to low 20s imo.
Most of you will know more about this company than I do, these are just my observations and thoughts, the sharing of which is one of hc's reasons for existing. Gmv is a super interesting story and I may well be back on board as a holder one day. Gltah and I fully accept my uneasiness may well turn out to be unfounded.
I sold my gmv shares today, have held them for a few months and...
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