shhh... don't talk about ECMO, not for a few more weeks at least...
Actually all cards on the table, I've been buying as many ECMO as I can recently and would like a whole lot more but I've pulled all my orders since the consolidation announcement.
When you're at levels like 0.5c there's really not a lot of room to move down hence it kind of ends up being a bit of a base by default. Once consolidated those 0.5c trades will be at 2.5c which leaves a lot more room to find the floor. Same goes for the heads really. They are out of the money options and although they have a pretty reasonable period before expiry we'll need a post consolidation move from 12c to 20c to bring them into the money.
I've done huge amounts of research on this company (which I'll post sometime soon) and I realistically see market cap in 2 years time being somewhere in the range of $250m - $1b. But until real news flow starts happening I won't be surprised to see some further short term downside.
I'm waiting with baited breath to see the results of the partly paid share auction.
ECM Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
