Full disclosure: I own shares of MGT and have bought and sold the stock multiple times. I have never lost a dime on MGT, yet I hear plenty of people bagging on John Mcafee, Demonsaw, and everyone else who works for the company that is renamed John Mcafee Global Technologies. I know that MGT used to be an online game and casino site. But John Mcafee, yes the same one who created Mcafee anti-virus and sold it in 1994,took over the company and in my opinion and from a stock viewpoint has turned it around. Please note this piece is entirely my personal opinion, not advice and you should not do anything monetarily wise on the stock market due to me venting my own personal opinions, views, and perspective.
Plenty of people don’t understand the extreme change MGT has undertaken, which is quite understandable. It’s a huge pivot from online gaming and gambling to security, but the thing is, it is a different company on the most part. Secondly, look who is part of the company and what products they’re acquiring. They are trying to buy one of the most private social sharing platforms that exists called demonsaw, they’re trying to acquire dvasive and are reporting making 55 thousand a month in bitcoin that they’re mining.
If you aren’t part of the security industry, you may never have heard of any of the names above. These people have worked very hard to change the world and while it’s no secret that many of us in the security community are eccentric, many of us are damn good at business. We are trying to create what we have in our minds and automate processes that can currently only be done manually. So that people who have no security training can be protected from online threats.
So, why am I talking about a stock if I am a security geek? I take an interest in many things and while stocks are interesting what I find most fascinating about MGT is how impulsive and scared people are. If the stock falls, everyone starts jumping ship and screaming how angry they are. I look at the stock and I am like “YES, price dip, buy more!!” and then the price goes back up. When MGT prices fall really low, it’s like Christmas because I know that it will rebound and it always has since it’s become John Mcafee Global Technologies. I have never lost money on MGT, not one single time. So, that is my opinion. My approach is to hold on and buy more stock when it drops. Not sell, lose money, and then punch myself in the face two days later when it goes back up.
Again, none of the above is meant as stock advice, guidance, or anything of the sort. It’s simply my personal opinion. I am using this forum to rant about traders who don’t understand MGT the way those of us in the security community do. These short sighted investors who jump ship at the first sign of a dip in price hurt all MGT investors. Again, in my opinion if I had shorted MGT I would take my losses, lick my wounds and then buy the stock when it drops low enough and hold on for the ride. To be clear, I’ve never shorted MGT.