'The difficult task at the moment is figuring out if its
day traders entering due to the golden cross which is highly regarded
or is it the boys and girls who have attended one of the presentations during the roadshow week?'
Hi Amg - Institutional Roadshow attendees may be waiting for confirmation via the next run of announcements. It makes no difference to them whether they pay 8.7 cents or 15 cents when they have access to pretty much unlimited client funds; but they most likely do have an internal Mandate they need to follow which no doubt sets out minimum requirements that need to be released in Announcements by way of OBJ; and then later with regards to revenue for further continued pushes.
More likely at this stage and with these volumes, we are looking at a combination of retail day traders with the assistance/mixture of Argonaut & Baker & Young clients buying on market; and sophisticated retail roadshow attendees trying to accumulate without pushing the price too high. I am pretty sure we will notice when the Institutions start their main onslaught which should follow Licensing deals. Until then imo we are looking at a mild mixture of all of the above.
OBJ is one of the most discussed on Hotcopper and many still sit on the sidelines to wait for confirmation and fine print in announcements. This time around when more buy into OBJ, imo some will choose to change their sentiment from short-term to medium/long and wait for revenues to prove up alongside the Institutions. And this is the benefit of having Institutions on board as they can easily stabilise and drive the registry and share-price........and OBJ Management recognise this. Put all of this together and there you have the perfect storm forming
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(20min delay)