The share price is up because this is a phenomenal company. I've seen it once before with PPE during their SPP a month ago (not comparing PPE to NVX or saying their similar before anyone jumps down my throat). If it's a quality company the share price won't drop and will actually go up - as we're seeing here with NVX and I saw with PPE.
I disagree that insto's have been buying outside the placement. I've checked and I haven't seen any buy orders above $20,000 and this was only one or two yesterday but please correct me if someone has seen otherwise.
I agree insto's won't be buying a pre-revenue company but to say it's not on their radar is foolish. They'll be investing the second the company ticks all their boxes (profit, revenue, whatever that is) and we'll see the share price climb further. Phil is exactly the type of CEO insto's will want to be investing in - outgoing, passionate, talented etc.
Don't be alarmed if the share price drops slightly after the retail shares are issued as some, foolishly, will be taking profits from their recent buys. I'll still be surprised if it drops below 40 (just my opinion).
Am I the only one who hasn't received their entitlement booklet? Maybe I'm just impatient.
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