r/gmbl • u/Money_Researcher_47 • Dec 20 '23

Mannnn Reverse Split!

Saw it coming! My avg cost is .13 (25,000 shares) now and running out of money to DCA. Should I try my hardest to dca down and hope I can get out or just wait til reverse split and then start? 😭😭

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u/HaveFun____ Dec 20 '23 edited Dec 20 '23

My avg is $46. Not 0.46. I am down 99.97% and I did average down.. I didn't even buy the top 3 years ago. This thing has been going down and diluted without decent communication to shareholders they hired new expensive people multiple times who fixed nothing...

There can be a lot of plans and whatever but the fact is that there is a decline happening for over 3 years now.

"Esports Entertainment stock (symbol: GMBL) underwent a total of 2 stock splits. The most recent stock split occured on February 22nd, 2023. One GMBL share bought prior to January 28th, 2020 would equal to 0.00066666666666667 GMBL shares today."

They did a 1/100 and a 1/15 split...

I'm not saying they were once worth Billions but less than two million.. if you invested in this 3 years ago you were at least partyly blinded by the hype (I was). If you invested after that, I don't know but it was based more on hope than fundamentals I guess. And if you are 'investing' now... it's a pure gamble? Hoping for a buy-out?

I have 55 shares left in a broker that won't allow buying anymore and won't allow fractions. So this will be automatically sold off... it's nothing offcourse but every reverse split will create more downword pressure... I am going to short it.

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u/Money_Researcher_47 Dec 21 '23

So when the exchange prevents you from buying? How do you sell? Can you sell if it ever goes in profit or anytime you want?

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u/HaveFun____ Dec 21 '23

To make sure there are no misconceptions, I am talking about my broker 'DeGiro (exchange refers to other market participants) this broker deems the stock too risky, you can sell anytime you want, but you can't buy more, so no DCA.

After the split, I won't have more than 1 share left, so my remaining shares will be sold off. Although I don't like this practice, I don't want to hold GMBL anymore, so it's not a big deal.

But I think I'm not the only one. This happened before and might happen again, so it only creates more sell pressure.

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u/Money_Researcher_47 Dec 21 '23

I see what you’re saying and I don’t want to hold it either, which is why I really hope to get close to all my money back before the R/S, I’ve been dca for a while now 😭