First, a word on message boards for stocks–they can be useful. I am not one for putting them down. They are often funny, sometimes informative. I like them.
That said, trust absolutely no one. If you read them in your spare time, great, but if you are trading a stock and relying on a message board for guidance, you honestly should just go to a casino.
Are you the smartest person in the world? You might be the smartest at one particular thing, or even a few things, but no one knows everything.
BIEL has the most evil message board denizens ever. I remember the good people from the Homestake and Battle Mountain gold message boards. They literally took my blinders off and taught me to see. BIEL is bad.
I followed the BIEL boards for years and still read them, but do not post. If someone wants my thoughts, this is where you will get them.
There are two types of BIEL message boarders–fanatical longs and obsessive bashers. They need each other though. One needs the other to create a dialogue with. Like Nietzsche’s god, if the bashers did not exist, the longs would invent them, and vice-versa. The reason for this is simple–they’re us, we’re them. The longs pump the stock up and then log in as bashers and bash the stock down. Laughable, really, but it works. A few honest people get suckered in to the dialog, but mainly it is a few people talking to each other.
Today on Yahoo, a certain “Coach Pappy” said BIEL would have a reverse split, which is when a stock restructures itself. If you have a thousand share, in a 1 to 10 reverse split you get a hundred. Less leverage, and now it is easier to run the price down again. Reverse splits are a disaster for the small shareholder.
“Pappy” spent years building up trust and expended it to-day to spread a rumor. I was a little shook up, so I called the CEO of the company, who told me what he told me last time. BIEL is nowhere near ready to do a reverse split. They will do one, eventually, but only when they want to get listed on NASDAQ and have achieved some milestones first–FDA approval and increased sales being two of them.
Pretty crazy. The stock sagged a bit, somebody got some cheaper shares, and then the stock price finished strong. The games are just beginning, I think, as we approach the FDA approval.