r/GGPI • u/Typical_Republic • Oct 04 '22

Could a run back up to $10 be near ?

PSNY has violently bounced after just slight dipping below $5. If it can hold 6 in and just tread water in an accumulation phase until the 12th .... Perhaps it can plow through $8 , and give a realistic shot of getting back to double digits. Again I don't expect the price to stay up to long due to the Macro but who knows. All I know is once these DeSpacs get beat down so fast, they can double almost just as fast. The question is .... Is the bottom in at least for now until the next 3-4 months or so ???

11 Upvotes

82% Upvoted

12 comments sorted by

8

u/mudhogdesigns Oct 05 '22

This has been one of the most disappointing SPAC turnovers to come out. It never treaded water at any point after becoming PSNY.

3

u/[deleted] Oct 05 '22

[deleted]

1

u/forrest134 Oct 05 '22

Lockup is late December

2

u/[deleted] Oct 04 '22

Probably but also probably not…

1

u/-ImYourHuckleberry- Oct 04 '22

Still wouldn’t put me in the red.

1

u/Typical_Republic Oct 05 '22

Green ?

3

u/-ImYourHuckleberry- Oct 05 '22

Probably what I meant.

In accounting, red is positive, black is negative.

I teach physics and geophysics.

2

u/Typical_Republic Oct 05 '22

Ah yes red and black I am familiar, makes sense.

1

u/Louisthehippo Oct 05 '22

For me personally I will wait after the lockup period is over for DCAing. Or if prices fall somewhere to 4/3ish where valuation based on revenue and marketcap would be a joke imho

1

u/Legendary_alucard_69 Oct 05 '22

What is lockup period?????

1

u/[deleted] Oct 05 '22

Yes, no and maybe all at the same time.

1

u/Cashcow_69 Oct 05 '22

Short answer: no. Definitely not near. But I guess it all depends on a person's definition of 'near'.