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« 13.6 Billion Reasons to Adore Silver Wheaton | Main | Silver Wheaton placed 3rd in Top 10 Most Efficient Basic Materials Stocks »

Silver Standard Resources Incorporated: Clarification Required

SSRI Chart 01 March 2010.JPG

On the 6th February 2010 we wrote that the news that Robert A. Quartermain had resigned as President and CEO of the Company effective January 19, 2010 has cast a small shadow over the company in that the market does not like uncertainty and this position needs to be filled by the right person for the job. SSRI is still a great company so we will need to watch it closely as a bounce back to much higher trading levels could be on the cards.

Well, as we can see from the above chart the stock is showing little signs of recovery as it trades at $17.01 with the technical indicators moving sideways along the bottom of their respective ranges.

So, on the 26th February 2010 we sent the following missive to Silver Standard Resources Incorporated:

Good Day,

As investors and indeed promoters of Silver Standard we are concerned that the stock price is drifting ever lower. Can you please provide us with an explanation for the demise of the stock price?

We are aware of the recent resignation of the CEO without having a replacement lined up to take over which we believe is a drag on the stock price.

Best wishes,

Bob Kirtley

The recruitment of a top draw executive is imperative to gaining investor confidence in the company and all of us would like to see it happen sooner rather than later.

Stepping back from the situation we can see just how sensitive a stock is to any one of the ingredients that form part an investors criteria regarding investment decisions. Sometimes its politics, start-up, finance, topography, labour and plant availability, etc. This time its management that has a cloud over it which is acting as a drag on the stock price.

This situation calls into focus our whole investment strategy regarding this bull market in precious metals as per our recent post on where our latest article questions the soundness of holding stocks as oppose to other methods of trading, it is entitled: “Are Stocks the way to play this bull?” please click here to read in full.

As soon as we get a response from Silver Standard we will publish it, in the mean time read as widely as you can as these difficult times are set to continue so the need to protect yourself continues to grow.

For those interested in getting a bit more bang for your buck and adding a touch more excitement to your portfolio, then check out our Options Trading Service please click here.

Got a comment then please add it to this article, all opinions are welcome and appreciated.

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