Reality is that with newsflow infrequent , many that need to sell for a variety of reasons may hold off until an announcement comes where there is sufficient volume to sell and not drive the shareprice too far south. For many existing holders and yes many from the recent capital raise , these 2 announcements were their chance to exit. No guarantees on when the next announcement may come.
More consistent newsflow will help reduce these mass sell offs. With AGM circa 3 months away one would expect management to be doing everything in their power to ensure votes go their way.
And of course a big significant announcement may actually force some holders to re-consider selling and shuffle some other cards so they can continue to hold. EV1 or EV2 key on this one.
This month may be slow with Europe on summer holidays so not expecting much for August but September and October will be a critical period for the future of this company.
ADO Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
