Less than two weeks ago we warned that this stock was in danger of falling off a cliff. The idea that provided the yield is so high that it will offset any capital losses stopped clearly stopped working. Here is today’s chart;
The decline accelerated. The stock was at $16back in 2006. This is supposedly Canada’s largest internet stock.It seems that the reality is becoming more obvious, nobody is letting “their fingers do the walking” if they can have Google do it for them.
Count wise it is well possible that the low today around $2 will be it for a little while ,so it may not be a good move to through the baby out with the bath water now. A stop at the cliff line, or slightly below would have done wonders. They do not cost anything!