my viewpoint is they listed on the nasdaq and the brokers did not buy in ...after that the price collapsed
on the lows for a long time and it appears the brokers bought in and shifted the stock offshore......
now the price has recovered a lot of lost ground ...and there has been trading activity on the nasdaq ..which appears to indicate ...stock was moved offshore...and it was used to raise the price ahead of the cvac report and .....now we have this new attendance at this financial expo.......
looks more like an attempt to bring on board the institution sector......
I'd summize that there has been a very large amount of stock locked away offshore...the moderate volume we have seen as it rises appears to support this......
I believe the offshore brokers have set themselves up on the cheap for a big rise in the price and they will be working in the background pushing the good points about prr to the institutions....
the orphan status of the cvac coupled with the low price and the the advanced stage of the cvac program will be very attractive to them..add to this the cash reserves of the company......and I expect the instos will buy in and the brokers will be working the stock to make sure the instos make a profit
As for the suggestion that this appearance at the expo is only to update the US market on board member changes and the cessation of wastage of capital on discontinued projects....no one would be interested especially instos.....its the sort of thing that you release to the asx in a report and is widely known....
no company would waste their time and money doing this...they in fact would lose credibility......and bore the hell out of any insto reps in attendance ....
One goes to these instos for one purpose...to get instos on board....one has to present them with a glowing near futuristic report...
the very fact that this happens before the cvac report is a fair indication to me that without disclosing whats in the report...that the company will present sufficient information to bring offshore instos onboard......and the brokers will be working their other clients to get them interested........
the more stock that leaves the asx and moves to the Nasdaq..the better it is for all of us.........unlike investors in australia...the Us traders are bigger risk takers and have more confidence then australian traders...at this point in time......
so I expect the price will soon make some big moves...just now its in a holding pattern...and its done this before......then bolted......
if australian brokers are aware of the situation they will be working the stock to accumulate...the offshore broker have most probably got their fill on the very lows....
the low volume of shorting reported by asic is a furthur indicator that the ones who normally short prr are in the know and are going long...it may also be difficult to borrow to short it on a long term 9 month basis...so if there is any shorting its in all probability one day short borrowing.....
well lets wait and see who is wright and who is wrong.......personally I feel its getting ready for a big run......exact timeframe ..no one knows...this type of stock can languish for years and in one week blow though the roof........
given other similar stocks on the nasdaq don't have the possible percentage returns anymore...prr will offer US investors an opportunity to get in low and take big percentage gains.......with a low downside risk........
similar companies on the nasdaq have BIG downside risks and low possibility of BIG percentage gains.......this will appear to be easy money when the instos and brokers decide to push it and they will draw in the average trader/investor to give it momentum.......
PRR Price at posting:
15.3¢ Sentiment: Buy Disclosure: Held
(20min delay)