Terminal symptoms: Relentless selling. SP reducing to just a few cents. Such a long time since any director bought shares.
Sounds like a penny dreadful resources company that is running out of funds and whose next announcement will be a disaster. (I've seen a few resources companies in my time where seriously bad news was almost inexplicable and must have been known to some people long before it was released. And don't expect ASX/ASIC to ever do anything about such circumstantial shenanigans unless somebody presents incontrovertible evidence to them on a plate, which never happens because the only people with incontrovertible evidence are the insiders.)
But SPL is different, isn't it? SPL is not a penny dreadful (not yet anyway) and it is not a resources company and it has enough funds to last a few more years even if it never makes a cent. And somebody must be buying all the shares that are being sold. Maybe they are the smart ones. Maybe they know something. It's probably stop-loss selling and panic selling.
Nevertheless the continuing relentless dumping of shares, at a time when important announcements appear to be overdue, strongly suggests that something is not right.
SPL Price at posting:
14.0¢ Sentiment: None Disclosure: Held
