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Do you have any recommendations on GID that Charlie Aitken recommended recently?
I bought them at .49 cents and they keep dropping – now at .42 cents; not sure if I should hang in there or cop my loss?
A: I think GI Dynamics is in the “speculative” category. This means that you might need to wear some pain.
It has been a one way train since they issued their second quarter update on July 2, and it is a little hard to say when the market might reassess.
They are currently trading on a 52 week low.
If you are uncomfortable with the position, then cop your loss and move on.
If you believe in the vision and the position is not material in your portfolio, then you probably hang on. They had USD $49m in cash at the end of March – their next quarterly statement is due out this Thursday (31 July).
