We are into the last 6 weeks of the FY, a time when many RI and instos do some "housekeeping" in their portfolios to balance them before end of year. Taking losses for tax reasons and/or selling high profit shares to lock in profits and/or counterbalance their losses.
For anyone who purchased at circa $ 3 in October 2023 these profits would be substantial. Anyone that purchased years ago at circa $ 10-20 it could be a good time to take a tax loss while the swing is down and then repurchase.
I am a long term holder at $ 9.50 a share, but have also successfully traded in and out 3 times in the last 6 months with substantial profits, and given the opportunity will continue to do so.
As noted previously most of the selling/buyimg could be BOT initiated, or as another poster stated a "bear-trap"
I understand the "Nextellis issue" but the Conference presentation seemed to reaffirm previous guidance.
I don't expest MYX to come out with a statement to clarify their reporting and/or give clarity on why BB has not continued.
Unless there are any corporate activity I expect we will have to wait until August.
I'm hoping that Hadrian comes back with an MYX response to clarify the Nextillis reporting.
MYX Price at posting:
$6.37 Sentiment: Buy Disclosure: Held
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