I believe you may be correct in lower prices in the short term. $1 dollar support.
Mr Market sees other sectors outperform which means investors selling out of SMN.
Lithium being one hot sector. So you can see why smart investors are selling out in droves from SMN to get where the money keeps flowing higher!
Unfortunately, the two Bankers have sold us short with $1.25 capital raising, which is now starting to bite big time. We went from $1.40 raising in 2016 to $1.25 raising in 2017 in a market which has seen the Dow Jones index soar above 25,000 points. Go figure!
Incredible when you think of it. Not even the FOMO can save SMN share price as investors have spoken by selling in droves.
Management personal greed is holding this stock back. With the fear of raising interest rates and the fear of a market correction, SMN share price in the short time will prob drift lower.
Remember, management have already walk away with millions in their pockets, so no FOMO from their perspective.
Prob why Paul Cozzi sold out. Lots of money to be made elsewhere where the market is bullish and management not lining their pockets.
I am still very bullish but will have to eat humble pie, as the negatives are just weighing more heavily each day.
The FOMO and the Fear of making no returns on SMN this financial year 17/18 is too much for most investors in SMN.
GLTA
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Last
49.0¢ |
Change
0.010(2.08%) |
Mkt cap ! $72.01M |
Open | High | Low | Value | Volume |
49.0¢ | 49.0¢ | 47.5¢ | $164.4K | 339.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 10801 | 48.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.0¢ | 20549 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 10801 | 0.480 |
1 | 2428 | 0.475 |
2 | 60000 | 0.470 |
2 | 42429 | 0.465 |
3 | 75000 | 0.450 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 20549 | 1 |
0.495 | 19942 | 1 |
0.500 | 68565 | 2 |
0.515 | 13182 | 1 |
0.520 | 94395 | 4 |
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