Some great momentum over the past few weeks6 Mar 2023 20:16
I was in from BOU and like many sold at a hefty loss at 4.1p as I needed to show cash assets for a purchase.
Given the potential this is a stock that remained on my radar and so I took a small stake at 1.9p, another at 2.4p and then a larger than I should at 3.5p.
Based on the pattern over the last 3 weeks in particular I’m confident that the larger investors are buying in smaller volume and gradually accumulating based on expected news. Reason they are buying 10/20/30k is that it is cheaper, hence why we are seeing so many rounded trades.
So, as mentioned by many of you, once the day traders drop off this will support sustained growth. I genuinely feel that getting to 10p / 12p isn’t unrealistic this week and…..deserved. After that, without a positive RNS it will drop back to 7-9p so let’s hope that some positive news follows in the next few weeks to keep up the momentum and place this share where it trully deserves to be.
Ideas of £5-15 are (I feel) little more than wishful thinking, however this has potential to reach £1 fairly quickly. Should the trials go as expected (forget the later ones as buyout will come before they advance) a realistic is between £2-3 in my opinion. Time will tell!
In the meantime let’s enjoy the ride back to double digits, where this share more than deserves to be.