One of the other stocks I own, is CVN (no...not a cross promotion). It has a market cap of around $320mill and has found a decent wad of oil. Largely though, it's still an exploration Company..
When its share price rises from 20c to 22c (meh...no 'biggie'), that's actually an increase in Company value of $32 million dollars.
Thanks to the impossibly small amount of shares on issue for Carnaby, if If our exploration Company were to rise by $32 mill, our share price would catapult up to 43c.
Even if our share price rose to $1.00, that's actually only a market cap of $95 mill. Hardly over the top for a Company that will soon have around $30 million in cash and a bunch of seriously rich prospecting ground.
My point is, it's so bloody important to ignore share price and focus solely on overall market capitalisation.
Once CNB starts to run....and I mean really run, the strictest discipline will probably lay in not being influenced by the 10c.....or even 20c daily jumps.
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Last
56.5¢ |
Change
-0.005(0.88%) |
Mkt cap ! $97.14M |
Open | High | Low | Value | Volume |
57.0¢ | 57.5¢ | 55.0¢ | $235.3K | 416.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 999 | 56.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
57.5¢ | 9571 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 999 | 0.565 |
1 | 20164 | 0.560 |
1 | 15000 | 0.555 |
1 | 200 | 0.550 |
2 | 40000 | 0.540 |
Price($) | Vol. | No. |
---|---|---|
0.575 | 9571 | 1 |
0.580 | 37936 | 2 |
0.585 | 35000 | 1 |
0.590 | 20000 | 1 |
0.600 | 52141 | 2 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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CNB (ASX) Chart |