The SP held its ground today with only a little over 6mil heads changing hands.
Considering what a battering this end of the market has taken in the last few weeks I am surprised at the market support here.
But they kicked the revenue can down the road another quarter. Will the market tolerate another quarter in the absence of binding agreements and revenue projections?, some stocks it does up to a point eg BRN, but holders there have been watching too many terminator movies including myself , I dont think the same will apply here, I dont think the SP here will survive in the 4s even to the end of the week on the scraps of yesterday morning announcement.
Take ALC for example, cash flow positive!!!, lower MC and million dollar contracts signed just last week, and struggling to find support as it continues its spiral downward. Market is all over the place atm, ominous sign imo, punters increasingly seem to be taking less risk at this end and protecting capital is what I believe I am seeing.
Cant see this going north anytime soon, will be very curious why if it does
IAM Price at posting:
4.3¢ Sentiment: Sell Disclosure: Not Held
, I dont think the same will apply here, I dont think the SP here will survive in the 4s even to the end of the week on the scraps of yesterday morning announcement.
