Market seems to be anticipating a large sell off tomorrow when shares are released from Escrow, Hence the downward pressure. Probably a combination of the recent political issues with China as well.
Possible could be over reaction. Time will tell. Given there is a lack of buying I'm also assuming buyers are holding out to see what happens when shares are released. I See this a bit in stocks with lower liquidity. Although OLLs volumes are a lot better then what they use to be.
Not sure where the market is taking this in the next few weeks. Market cap is so small I could see this trading @ 50cents as fair value and wouldn't think it's over priced given the pipeline of work in 2021. But removing fundamentals, while I don't agree, I can also see why traders are pressuring the stock.
Personally I think the price is too far removed from fundamentals and think there is value in it here. Others have their views.
For those that are holders. I think the UNSW deal has given us an indication of what OLLs plans are. I'd love to see them release similar initiatives with other leading universities.
Imagine if they were the go to platform for all overseas students to enter into Australian universities....the opportunities are there.
OLL Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
