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MMs have played this well squeezing some cheap shares away from weak hands. I guess for most it is now approaching the buying level again.

Bizarrely not much stock available online. Just one MM on 33 and asking full price. 5000 shares available then to market on IG.

Sector interest will continue to build. In 6-12 months we'll see a differential between winners and losers in China. The only other aspects are current valuation and exposure.
I believe that Ethernity will out perform on share price

104167 is a 3rd or 4th rollover for this investment. It was last done on 11th December at a higher price.
So the holder thinks that it will trend up further.
I think that it's in the doldrums. Volume dropped off, a trickle of sellers and a few buyers. It is in the doldrums evidenced by the conformity of level 2. No MM competition, they are in a sit and wait pattern all in agreement.
It will take news or a further ramping up of the sector interest.
I believe that we are 3 months from substantial 5G news. However I believe that we are close to the disclosure of at least 2 pipeline non 5G contracts. I am also expecting news of 5G alliances and sales/marketing partners in the very near term.

Buying at 31.99 currently.

Uhif. It is very likely a estimate for one function to however Ethernity use their SmartNIC in multiple roles. 6 months ago the market wasn't aware of a solution to use a SmartNIC in the DU. I believe that Ethernity are working on a CU solution. There are UPF, NFV, cell site routers and many more. These are ways ghat Ethernity are using fpga based SmartNIC. These are not cards just to join compute but cards to actually compute.
The estimates doesn't even cover China. In China there may be 10 million access points eventually. They deploy about 600k a year. These may be towers, these may be boxes in car parks or lampposts. Add to these private networks. These points are joined to the network, likely batched. Let us say 2 million. Some edge functions on private networks, some distribution functions. So each of the 2 million requires say 4 SmartNIC on average. 8 million just in China.
$2000 each for the empty box nic..
$16B just in China. Now add functionality.... double it at least. Window 5-10 years.
India maybe $8B window 8-15 years.
The estimate may be true when considering just one use and just one limited product.
Ethernity do this locally through third parties already established. As the markets mature all will be revealed.

The Ethernity product portfolio is much broader than Napatech. Ethernity have some unique solutions and are the only product with a router within the NIC. Ethernity will place ACEnic-100 at 3 stages within the 5G journey from device to network.
The size of the SmartNIC market globally is huge. Way more than Napatech estimated. It maybe the market that they are exposed to.
The ACEnic-100 is used in multiple products as the engine and Napatech are much less versatile.
You need to remember that the SmartNIC is a small part of any appliance. The SmartNIC maybe a few thousand US each but the Ethernity devices are where the money is at near 100% margin. It is what they put on the SmartNIC that pays.

33.2 to buy now. Being walked back with MMs firmly entrenched at 32/35 in volume. Stagnation.
If there is no news I will be interested to take more tomorrow or Monday.

33.84 to buy.

The parallels are quite real, even mission, Ethernity tech is much more versatile and adaptable. The RNS from Napatech suggests that a end user has selected their product. I think that will be if correct a rare situation. More likely that they contracted an integrator who subsequently designed a solution with their SmartNIC. Much depends on the performance requirements. Many times it won't be the pure best that wins the race.
Ethernity from their lowly cap need just minor success to double the share price.

Given that the current has to double to breakeven we are looking at a very realistic 15x valuation on raw profit. Hits my £5 bottom end target well.
Consider the discount to a future market, recently raising cash and still loss making £5 looks stupid cheap. Hence my realistic £10 anticipated return in dividend and share price appreciation.
Non of that looks too flighty to me.

Bid the CEO World article could have been written by Ethernity. I see that it was by Napatech. They are in the same space and will also win business.
What is interesting is in the next 5 years the NIC market will triple. Sounds OK but not great. However currently I believe 1 in 20 NIC sales are SmartNICs. That is projected to rise to 10 in 20. So if sales triple and smart sales increase as projected SmartNIC sales will increase 30 times.
As the drive for performance increases the smartest SmartNICs will increase their market percentage. I believe that the Ethernity market will increase at least 60x over 5 years. Yes much if that will be in years 2-5 but we have to start somewhere and the current cap has a huge amount of headroom.

Yes the momentum is lost and now the MMs will punish sellers. It won't take much to energise the share price but for now it has stalled.
The awaited 5G mass deployment will firm up soon. In the meantime no real hurry in my opinion.

The market that it makes most sense for is India. They are still embedding 4G and using Ethernity powered products they can accelerate 4G and later just fill in cell sites for 5G. Ethernity has a production capacity with a Indian OEM and those products can be exported globally. The Indian government are insisting on local manufacturing and local suppliers.

It must be noted that Ethernity has close contact with the three major mobile operators in China through Fiberhome. Ethernity and FiberHome has a joint 5G solution marketed by Fiberhome and Ethernity. Very similar to the situation with TietoEVRY and Ethernity.

I am encouraged to believe that there are at least 2 pipeline contracts to be announced. Non 5G based on existing products. 5G will I suspect be updated end of Q1. Field trials are still in play and the update will include the results and the move to mass deployment using ACEnic-100 in various guises with a major Chinese entity and several OEMs with contracts in hand. The rest is subject to field trials. First sales Q3 in small volume Q4 increasing.
Please take this as what I have been told and don't invest upon it. The provenance is very good but the source is largely untested.

Whilst there will be losers I think that many share prices will rise purely on association with a gold rush sector. Many don't understand how this will go and where the market is. Many are looking at smartphones as where 5G is. It will be about 5% of the market.
Ethernity are very well placed and FPGA-based NICs will have a place in 5G. Ethernity will in my opinion dominant the FPGA-based SmartNIC market globally through third party devices.

I suspect like me people are looking for the price below the likely 5G strike price. When it pops above I guess that they will keep the MMs supplied through the back door. Certainly there is no supply coming through the book.

I have attached think a Tel Aviv listing would bring in Israeli money. Resident in Israel it is nearly impossible to buy on the AIM.
They have a substantial local following and the tech interest in Israel is huge. Within a few kms of Ethernity are several global leaders and they are watching Ethernity.

This is a mid to long term investment. Short term the price moves up for a reason. The picture gains clarity and the value increases. 6 months is short term here. One year will see £1 if the wheel falls off much more with the wind behind it.
3-5 will reward heavily. The solutions that has mass and multiple deployment potential are in those markets.
The demand will rise exponentially year on year. I guess that the share price will increase percentage wise most in the next 12 months but after that Ethernity will have millions excess each year. I bet that the directors holding huge volumes will reward themselves and us with dividends. Ethernity are a unique proposition. They will produce unique returns.
If your outlook is short term jog on you are wasting your time as you will only ever see what you could of had if you had the balls to hang in.