I think there is little doubt CNW will be much higher than 4.5c in 12 or 24 months time (assuming no disastrous misadventures by management).
The question is what path it takes to get there. Recently there is more traders fun and 'who blinks first' watching the charts, with talk of "blue sky" potential for a services company. I like the space CNW operate in and the industry etc - it isn't the sort of stock that can really justify 10 bag overnight (and stay that high) imo because for each dollar of revenue, there come more costs and expenditure.
Sure there are some economies of scale, savings as they grow etc - but before all of that happens, they need to turn their revenue into profit. If the traders trade this up to 10c now the market cap will be very loft and I expect any disappointment in a quarterly or profit guidance might shake holders confidence.
I'm sitting on the sidelines for the moment till the price settles back down, there is plenty of amusement reading the CNW threads in the meantime!
CNW Price at posting:
4.5¢ Sentiment: None Disclosure: Not Held
