I’ve been thinking a bit lately about the CUU and its unprecedented following it has on this and other bulletin boards, which is way more than what a few cent stock should have. I checked several other mining stocks that are now in the 10-15 cent range and you are lucky to get a handful of postings for the month. What is so special about CUU? People lose money in the stock market every day (especially on venture) so why all the chatter about CUU all over the internet BB?
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I propose that you just answered your own question.
CUU has an unprecedented following, beginning at the big run up to $2.70+. We had an incredible story, negative copper, Stifel, Salazar, great drill results, huge chorus of posters cheering each other on that this is going to the moon.
Group-think defined our direction, blogs touted the unbelievable opportunity we had to make multiples on our investment in a short time. This was unique to CUU. It all seemed so spectacular, many were drawn into this. Due to the unprecedented pump on this stock, we had a large number of retail shareholders. Many were so sure this would pay big that we convinced friends and family to buy in and share the wealth - this was the chance of a lifetime after all! Many borrowed money or sold other holdings to buy more shares in this sure thing. It was unthinkable that anything could go wrong... Hopes were very high with talk of Vegas and buyout pools. Anyone who said anything contrary was labeled an idiot or a paid basher trying to steal our shares.
Many people over-invested in this once in a lifetime opportunity. It was easy to be lulled into the security of the collective DD of the day. This level of over exposure to a single stock would not have happened without the pump/group-think of the day. That is what is different here.
Then the reversal of fortunes came. No more negative copper, a marginal, much delayed Christmas present - the long awaited BFS with little explaination from the company. Things looked bad, but the group-think soon assured everyone all is ok - the BFS was positive and Teck would almost surely back in as the 120 day clock was finally started and the answer would be coming shortly. Hopes were still fairly good.
Then Salazar was tossed and we took a different approach than was expected with our JV aggreement. No indication from the company that the Salazar wasn't worth the paper it was written on. All of our DD was flushed and we were left with a new agreement that may or not be better - that is another story...
How many of us told our friends and family to hold on for the 120 days - crazy to sell now? I know I did. I wish I could do that over again! I think the losses my friends and family realized (due to my recommendation) was more painful than my own losses.
Considering all that - is it unreasonable to assume that there are many upset/disgruntled shareholders? Upset enough to continue to hit back at the company for ages? I think that is logical.
For example: CanadaGrant lost a bundle, was a positive person on the boards for the longest time until he realized he was duped. After trying to get answers for so long, his frustration grew (we all saw it). Eventually he was labeled a basher and shown the door.
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What I find very funny, is to see the gloom and doom copper articles or bad economy or pending recession etc being posted on CUU boards like there is no tomorrow. When I check posting history for some, I do not see them posting the same article anywhere else. It is as if CUU, an obscure venture stock, is the only stock that matters in the whole world. And when some of those posters do not even hold shares, I wonder why waste time like that?
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How many would hold a grudge after what had happened? I think many!
No suprise to me that there is a lot of negative posts from former/current shareholders. People are really upset after their dreams were crushed and they realized they followed the group-think to their financial demise. Not funny at all...
Sure, some of the negativity is over the top - but I can understand why. On other boards some of the pumpers are still attacked personally to this day, maybe because they are the only ones left still pumping? Personal attacks are not acceptable, but some of it is back and forth on other boards. I'm pretty sure nobody want to see/read any of that BS, and its certainly ruined SH.
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If we say for a moment that CUU is a bad stock, with nothing to look forward to in the near future, then one would expect a very thin bid and lots on the ask. Curiously, that is not the case. I’ve been checking this for weeks now and most of the time the bid outnumbers the ask by a lot. And the bid is not gaping down, as expected with a bad stock where someone just puts in a large stink bid way down, it is only half a cent lower. And a few days later, another large bid brings SP down another half a cent. Somehow, sizable bids keep popping up and seems to be a concerted walk down, half a cent at a time and trying to get as many shares as possible at every step.
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I DO want to know what we have to look forward to in the near future? Could you elaborate on this?
The numbers on the bids and asks near the trading price have been back and forth. I think bids and asks well outside the trading price should be ignored.
I think the concerted walk down is due to many averaging down or supporting the SP. Many post regularly here they are doing this.
If you are trying to infer that some shadow organization is somehow manipulating the market to steal shares (and Im not sure that you are saying this), I think you are way off the mark.
That paid bashers employed by this unknown company trying to steal shares from retail has been touted here all the way down from $2. Any company buying shares constantly (as the SP falls from $2 to $0.15) would be broke. Complete nonsense - makes no logical sense. At all. If that was the plan - this shadow company has failed miserably at their goal.
Don't discount the day traders or true believers that are still buying. A good argument could be made to buy at these levels - so I'm sure that is what is supporting the SP. I can't buy into any of the conspiracy theories personally - but believe whatever you want.
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Pumpers are long gone, I do not see any posts claiming imminent wealth and SP in the double digits. Yet the negativity is still around (less here than other BB) and there is too much effort put into convincing everyone how bad this stock is and how bleak the future looks. All this activity for a 14 cent stock makes me think there is probably more to this than what we are being told to believe.
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Pumpers are not gone. Several here flat out refuse to acknowledge that this investment can go anywhere but up. The unmuteable belief that all will turn out regardless of where all evidence is pointing is alive and well. The bolded part of your last sentence is what I mean - things are looking not so good, but there must be gold at the end of the rainbow? Claiming something like that - something unprovable as a reason to be happy with where we are?
With so many current and ex-shareholders realizing massive losses (at least partially due to the group-think, blogs, and company promoted positives of the past), I am suprised there is not more negativity.
This particular board is unique due to the fact that dissenting voices are often chastised forn their point of view or removed from the board completely.
I think if we were more open to dissenting voices or contrary opinions in the past we would not be so heavily invested here now. If these contrary opinions could have been discussed we may have seen this more accurately - but they were dismissed as paid bashers, morons, etc..
I beleive this policy has cost many of us a lot of money.
