RE: Yu.31 Jul 2019 20:13
I said the other night I'm really surprised the sp has moved this way.
Looking at the facts, and wongtogo has made some good points below and I don't always agree with him, I can't help but think that for whatever reason the mms have decided not to take the sp up.
We knew that there would be a loss for the last year and yet that didn't stop a sp increase to 2.80 a few months ago.
My personal opinion is that there were A LOT of traders invested, when that rns dropped and the Sp didnt rise they all hit the exit, that alongside an agenda from the mm has seen the drop. On top of that the company has named a date for an update on first half 2019 trading in September, all these things together let the shorters piggy back on the traders and mms and result in a ****e sp movement.
The good thing is that there are a lot of positives in the company, the cash in the bank, the focus on lower risk higher margin contracts, and the improvement in corporate governance.
Its pretty obvious that later in August this will bounce and bounce hard. The mms have got their cheap shares now and sooner or later the coiled spring will bounce back.
If you are a trader then unlucky, if you are ok to weather the storm then the sunshine will come in a couple of weeks or months. I'm sitting tight.
Gla
All imo