It looks like the share price has been driven up over the past month on anticipation of today’s announcement. Remember the sp closed 45% up in less than a month at one point. Some traders may have taken the opportunity to take a profit on this announcement (buy on rumors, sell on news). Some others may have been spooked by this noise over the past few days and sold out also.
Looking past the noise, today’s announcement is very positive as the company has been given the green light to complete the current trial on schedule where the timing of completion and announcement of results is also now basically locked in.
I’m personally not bothered by any short term movements, until we get closer to announcement of final results the sp will continue to be played by relatively small players. Only when LCT announces it has a viable product will we see a more sensible valuation of the company in my opinion.
LCT Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
