This isn't LatAm, but for once I don't care. Today, Novagold (NG) published this PR to remind warrant holders that a tranche of company warrants priced at $7 expires on October 1st.
Have a look at the recent price chart for this dog-of-dogs, and you'll see.........
Have a look at the recent price chart for this dog-of-dogs, and you'll see.........
......that NG (known by some as 'nadagold') has been languishing under $7 since August 7th. Then suddenly yesterday it managed to stick its head above water by finishing at $7.32. Management immediately reacts by telling the world it can add to the liquidity burden by cashing in the warrants for a tiny profit if they're quick enough. Why? Because if the warrants get cashed, $7 goes to the company coffers and 32c to the poor, beaten down investor.This is like putting a sign on your back that says "KICK ME", and sure enough NG is already down to $7.10 in early trading. this proves two things about this company
1) They are desperate.
2) They don't give a damn about shareholders, they just want your money.
Bottom line: AVOID NG LIKE THE PLAGUE