All the stupid people like me should go on to Meta AI on Whats App and replicate the question I asked. Namely: "does the evidence show that a junior resource explorer which has an extremely large number of shares on issue is more likely to trade sideways than an equivalent company that has done a share consolidation". The answer comes back in nano-seconds and is "yes" and gives reasons.
Now I am not advocating consolidation because I don't really know enough and as the answer I got indicates there are always share-specific variables. But we all know that this company has a billion-share monkey on its back. Intuitively it just makes sense that with thousands of day-traders doing their thing and in that respect disconnected from the company fundamentals the price over time will tend to be what the price was, as all those painful little traders trade above and below the line and incoming sophs etc quit their shares for tiny (x a lot) gains.
You could treat that as a buying opportunity, or not, I don't really know. All I know is that the trend evident in most small explorers these days of good news being followed by reversion to the status quo is on steroids here.
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Last
1.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $57.22M |
Open | High | Low | Value | Volume |
1.2¢ | 1.3¢ | 1.2¢ | $18.04K | 1.473M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 4075573 | 1.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.3¢ | 6894983 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 3975573 | 0.012 |
14 | 4000206 | 0.011 |
35 | 12918188 | 0.010 |
25 | 8744378 | 0.009 |
12 | 5082320 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.013 | 6517883 | 11 |
0.014 | 5115500 | 12 |
0.015 | 4935848 | 7 |
0.016 | 4447964 | 10 |
0.017 | 2800000 | 3 |
Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
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