We are probably not in for a rebound today and I see that this could drift lower over the next few months even if it does rebound first over the next couple of weeks.
At these levels it is probably around the pre-consolidation price of 22 cents and I don't see that the risk is any greater than those early days with SBM.
I totally agree that the smart money is all over this and they have taken a big position. I bought more at around the $1.70 level, which in hindsight was a little early, but I didn't realise the extent of the shareholder concern.
I have no problem dripping money into this stock to build my position over the next few months because I see this as having great potential over the next few years.
There are risks involved, no doubt, but that is why we have a competent management team. Their job is to manage the risks and make this a successful venture. I have not doubt that they have the capability to do this and if you look at the chart you will see the stock being soaked up from the weak hands.
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Last
35.0¢ |
Change
-0.005(1.41%) |
Mkt cap ! $286.4M |
Open | High | Low | Value | Volume |
36.5¢ | 37.0¢ | 34.0¢ | $2.232M | 6.325M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 176558 | 35.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
35.5¢ | 671383 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 57000 | 0.350 |
1 | 30000 | 0.345 |
4 | 174764 | 0.340 |
1 | 79349 | 0.335 |
5 | 100000 | 0.330 |
Price($) | Vol. | No. |
---|---|---|
0.355 | 60000 | 3 |
0.360 | 113316 | 6 |
0.365 | 169697 | 7 |
0.370 | 161271 | 11 |
0.375 | 354956 | 6 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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SBM (ASX) Chart |