comin2getme
Member
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BET Discussion 2022
- Thread starter zeeb0t
- Start date
The 49.5 -.50c line must be a critical number for someone as they are defending it for life and death.
God knows what will happen once it's breached,,,maybe the floodgates open??
Just relentless the amount of script they are throwing at this thing.
Is it a really really clever plan on their part ,or am I giving g them too much credit and it's just a really really stupid plan???
Knowing what is coming on the news front,I think it's just really really stupid
There are plenty of other stocks that are way more vulnerable to macros than little old BET.
If anything I find having a punt tends to pickup in down times as your hoping for the big lotto ball to knock your front door down .
Anyone who has been shorting when BET was as these levels last time and rode it down to 30 would be sitting on quite a loss since its climb back up to 50,so it's really only the shorters who have been playing the short game from $1 20 odd that are sitting on profits .
I wonder what the thinking is with them??? Wait it out until BetMakers runs out of ammo or hope for a macro moment that will overwhelm the buyback???
I really can't see the margins in this,,plenty of other stocks can give you a better short outlook.
Anyway ,,Spring Carnival just around the corner and looking forward to results on how Monmouthbets goes this weekend.
I wonder what the local NJ advertising and marketing has been like and how much Bet is throwing in?
I would see any expenses here as being money well spent as if you don't know about then you won't use it
Let’s throw a good conspiracy theory in. Perhaps “shorters” have been employed to keep the SP down, so the buy back price of the 80 odd million shares is kept to a minimum. Why would BET want to buy shares back at $1.20 when they can get them for .50 cents.
Or is BET doing a reverse short. Everytime a shorter drops it by .05 of a cent they raise it back .05 of a cent. The shorts used 200 shares to drop the price, BET buys 200 shares to put it back. Good old game Of ping ping at the moment. Maybe BET are just rubbing a bit of salt in the wound before they drop the bomb shell.
I am certainly not suggesting this is happening at all. but nothing like throwing in a good conspiracy theory
Or is BET doing a reverse short. Everytime a shorter drops it by .05 of a cent they raise it back .05 of a cent. The shorts used 200 shares to drop the price, BET buys 200 shares to put it back. Good old game Of ping ping at the moment. Maybe BET are just rubbing a bit of salt in the wound before they drop the bomb shell.
I am certainly not suggesting this is happening at all. but nothing like throwing in a good conspiracy theory
Just Westy
Member
Think it's a bit more simple than that and that is BET don't really want to buy back the 10%, remember Todd mentioned adding value at these levels.Let’s throw a good conspiracy theory in. Perhaps “shorters” have been employed to keep the SP down, so the buy back price of the 80 odd million shares is kept to a minimum. Why would BET want to buy shares back at $1.20 when they can get them for .50 cents.
Or is BET doing a reverse short. Everytime a shorter drops it by .05 of a cent they raise it back .05 of a cent. The shorts used 200 shares to drop the price, BET buys 200 shares to put it back. Good old game Of ping ping at the moment. Maybe BET are just rubbing a bit of salt in the wound before they drop the bomb shell.
I am certainly not suggesting this is happening at all. but nothing like throwing in a good conspiracy theory
I believe the buyback is just a backstop to shore up the SP and nothing more.
This is basically our current floor price I believe.
I absolutely HAVE to agree 100 percent here; it feels like the "from my cold, dead hands" kind of 'hanging on'. Personally, it smacks of desperation = really, really dumb plan. Whoever it is, you can't fight the tide.
Begs the next question - who is that person or entity that has so much to lose if they don't manage to keep the pressure on at that level ? I think a shorter somewhere has bitten off more than they can chew...
It has almost been like 50c is a ceiling that they are trying to keep on it; the candle from Friday was thick as and in early trade, it was up 8%. Imagine my surprise when it tracked lower from what was (essentially) some really good figures. I wouldn't / couldn't put it down to 'profit taking' because why would you do so, two days after the fact and when it hadn't really moved anywhere ?
It breached the 50c level on Wednesday at 8.9m shares turnover, it touched 53c but closed at 50c after touching 48.5c. Next day was much the same with the same high (53c) and low (48.5c) being seen, and it looks like most of the volume being around that 50c mark.
On those past three days, it's opened successively higher each time and still hit that low point of 48.5c. Someone does not want this thing to go higher than 50c; I'm not much of a TA but wherever that next level of support is (I heard 60c in another post ?), they don't want it going there (hence a lot of activity around the 50c - 51.5c mark.
I am that old and jaded that it wouldn't surprise me; in fact, nothing much does anymore. The truth is often stranger than fiction.Let’s throw a good conspiracy theory in. Perhaps “shorters” have been employed to keep the SP down, so the buy back price of the 80 odd million shares is kept to a minimum. Why would BET want to buy shares back at $1.20 when they can get them for .50 cents.
Or is BET doing a reverse short. Everytime a shorter drops it by .05 of a cent they raise it back .05 of a cent. The shorts used 200 shares to drop the price, BET buys 200 shares to put it back. Good old game Of ping ping at the moment. Maybe BET are just rubbing a bit of salt in the wound before they drop the bomb shell.
I am certainly not suggesting this is happening at all. but nothing like throwing in a good conspiracy theory
Lattelarry
Regular
I was thinking that too. Be interesting to see tomorrow if anything was bought.
Not sure what to make about today.
BET cant go chest thumping with a buyback announcement and then hide under the bed when the first sign of a Shorter's fightback pops up!!
Unless BET makes a stand tomorrow, we will be under the pump again.
Looks like the other side have had a think about their strategy over the weekend and its all guns blazing by the looks of it.
Makes BET look quite amateurish at the strategy table, hopefully they are one step ahead of all of us yokels!!
Couldn't agree more. Todays performance better be a blip on the radar or BET's strategy is once AGAIN looking extremely amateurish........
Anyway,see what tomorrow brings!
On another issue, are we able to find out how many times the Monmouth Bets App has been downloaded?
I think it would be a good indicator of what the takeup is like.
Also if we are able to, then we could track if it picks up momentum.
Curious about what the marketing campaign was with the launch of the App as well.
Just had a look at Monmouth Racetrack Instagram and their Facebook ,and unless I'm looking in the wrong place, I cant find any mention of Monmouth Bets and any plugs for it.
Maybe they cant advertise that sort of stuff on socials but it seems a logical move as a marketing tool?????
Lattelarry
Regular
Really don'y understand why they didn't buy the last 2 days. They are letting the VWAP get smashed back down.
Maybe we should all email them and ask whats going on.
Maybe we should all email them and ask whats going on.
enquiries@barrenjoey.com
comin2getme
Member
Maybe they wanted the vwap to get smashed back down...
Intentional.
They want us to do the heavy lifting and they are happy to sit back there with their mops.
Let's see how it plays out but someone posted something somewhere,,,,where if BET is to come out with News shortly,,,does buyback with inside knowledge constitute a contravention???
Ibetfixed
Regular
That’s not my understanding ….ie once they fully inform the market of their buy back strategy .. I think they can buy on market at anytime .. even if they are aware a big announcement is coming out.
If anyone knows any different .. please let us know .
Yes,please advise as it did pull me up a bit when I read that post.
Anyway, it's only a few weeks to go for the start of the Spring Carnival and yesterday's exclusive in the Australian business review did intimate BETR would kick-off in tandem with the carnivals so all positive news for BET.
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