RE: 100 Million Sell at close23 Jul 2020 00:48
So i bought into this share approx 2 weeks ago having watched a seller selling for ages as i always liked the concept and felt the stock would always rerate once the seller stops.
This hit 0.07 and the seller stopped selling for almost 3 days, i decided to buy in and within a few days the price was 0.14-0.15 so i decided to slice half and fully expected it to move back up to 0.40’s with the rest given my assumption the seller had finished, the day it hit 0.15 (ask) the seller showed his ugly face again and slowly brought the price tumbling back down over the following days (after spiking to 0.15 it finished that day 0.12).
Moral of the story is, when the seller pauses or stops, if only for a few days this will move back up very quickly. Massive sells printed from yesterday and today yet we finish blue, appetite for the stock is there given its very oversold at these prices. Ceo only a few weeks ago paid over 6x todays prices for over 50grands worth of shares cash. He’s confirmed newsflow will arrive promptly over the next few weeks, all we can do is hope it’s half decent because if it is then kerching!!
I’ve added plenty on the latest dip and expect/hope this will rerate back into the 0.40s over the coming months (coupled with some decent newsflow). GL