ALN is an interesting story. The company is currently undergoing major changes in the way it operates. ALN is on a steep growth curve and it is reasonable to expect it will continue its current strategy of improved shareholder value - read increased share price.
Two months ago, mid April, ALN was selling at around $4.50 before a major announcement together with AMP Henderson which, when in place, will see ALN as operator, manager and part owner of approx. $4Bil worth of energy assets.
Today ALN is changing hands at $5.84 and it is hard to see anything stopping this. The chart is 'up and away'. The sellers are not lining up to get to market and the institutions, who bought at $4.50 recently, are not selling. In fact supply on the ask side is quite low.
Any informed comments please ?
ALN Price at posting:
0.0¢ Sentiment: None Disclosure: Held
