While I don't think this will pass through $1 for at least a couple of months, I do think the swift re-rating which we are currently going through will see KIS settle into the 45-55cent range very quickly, likely over the coming days in my opinion.
I think it will then float around that 50c level until the next round of funding is confirmed, hopefully from the Federal Government as they see KIS as highly strategic right now (which the company is currently in discussions with, as reported in the AFR).
Only a small portion of the buying today came from retail traders. Luckily for us, this stock has not yet become a 'chat room special' as evidenced by the lack of posting on KIS across the various social media stock chat rooms.
But as we continue to see strong rises over consecutive days & weeks ahead of us (with some small pullbacks no doubt), it is unlikely KIS will stay off the retail trader's radars for too much longer. If/when that occurs, we should hope that the traders don't want too much stock because other MUCH bigger players are also in the process of entering KIS right now, and as we've seen today this thing can run.
With some very wealthy individuals already sitting tight as cornerstone holders in the top 20 of KIS including Tasmania's richest person (billionaire Dale Elphinstone), it is making for a promising future.
KIS Price at posting:
24.5¢ Sentiment: Buy Disclosure: Held
(20min delay)