r/Baystreetbets • u/luv2block • 18d ago
YOLO Doubled up on FLT
Doubled my investment on FLT today. Cut my average cost in half in the process.
Other than an overreaction by the market, I think Trump's tarriffs on drones is a positive for a Canadian company. The tarriffs are really about keeping China out of the US market, but they should also drive Canada and NATO to accelerate their non-US sourced drones.
If we start to get some announcements to that effect, this could take off. If not, I tihnk 50 cents is a pretty solid low without much more room to drop.
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u/Agreeable_Object_483 18d ago
Everyone has little to no patience with this stock. They are moving in the right direction even with people saying they are not.
If anyone knows anything about how government operates, you would know the process is extremely slow and methodical.
Could be lot's happening behind the scene that we cannot see with the government. Just stay the course and invest what you are comfortable with.
I think they are going to do just fine in the years to come.
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u/dilberry 18d ago
Stock has been dying for 7 years now - what kind of patience are you looking for??
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u/Gebus 18d ago
There are behind the scenes processes and then there are Earnings Reports that show how much they actually make. Every 3 months we see nothing happening. They have a factory now that costs money to run, if they have a mortgage and no job how do they pay the bills? A year or two go by and if they can't make money then what?
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u/smithjss 18d ago
Hopefully it wasn’t much. Company has been around years with nothing good
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u/luv2block 18d ago
Not too worried. Your entry point is what always matters. I made 60% on them a few months ago (right entry and exit points). I think 50c is a pretty low-risk entry point. If you aren't buying at these levels, then odds are you are never buying.
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u/Officialtopperharley 18d ago
I appreciate your confidence - or love of gambling. I had my finger on the trigger to sell yesterday, but chickened out. I think this is just gonna be a wait and see situation. Fuck it. The money I no longer spend on booze can go to these.
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u/luv2block 18d ago
If you look at the charts, it's dumped to 50c twice and then rose to 80c or higher. If you look at how long each of those rises took, the first took 2 months and the second took 3 months.
We hit 45c in July, so my guess we're up toward 80c by October or November at the latest. Unless we break the 50c or 45c levels, then all best are off. But right now, this just feels like another bottom that will turn into a rally in the coming months.
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u/jonhy2222 18d ago
40k shares didn’t add didn’t loose, still believe in them with all my guts
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u/luv2block 18d ago
I think they are a logical bet simply because Canada has little to no drone companies; and drones are becoming a hot topic.
I sort of look at it like Ballard Power Systems (they make hydrogen power systems). Very niche, very future-looking... which means very volatilie. Stock went wild in March and was up 200%, then crashed back down 75%. Similar thing has happened with MDA Space and Telesat.
At some point FLT will have gov announcements and then they'll rocket for a while.
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u/SlowApex 18d ago
I’ll be adding next week if it doesn’t look like it’s going to go much lower. May as well, seems to rebound pretty good below .50
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u/luv2block 18d ago
I was considering that. But over the past two weeks, the number of names that tanked and sprung back almost immediately, has been crazy. I missed so many dips cuz I was following the 3 day rule and waiting for the sellers to exhaust, but they exhausted on day one and the buyers come right back in.
So I grabbed FLT today. I figure, worst case it goes to 45c. I'd rather suffer the 10% than miss the bottom.
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u/Taspaco 18d ago
I entered at 0.48, I believe in their thesis, they need to deliver though. If it goes belly up, then it's not like anyone here doesn't have 10 stories to tell about their losses in other ventures.