Stock price, relative low sell volumes, and little movement (the lack there-of volatility) in response to some negative news seems very positive to me.. To reach back to it's pre-'negative news' level within 2 days is impressive for any stock even stable blue chip stocks. There has been very little volatility over these last 3 days (after the initial couple hours on Wednesday) meaning there isn't too much unknowns, risk nor fear in 'most' investors minds.
If I compared to other digital or tech stocks I hold, many of them had day falls in price by similar 15% or even more in recent months - so a little fall is very normal in response for any stocks. So that initial fear response caused some sell-off on Wednesday morning by short-term traders to The Market Herald article. Or just short-term and day traders that got stuck with their money stuck in Em1 when it went into suspension and needing to thus sell-off to put the cash elsewhere. Compare to others, Tesla for example was down about 7.4% on Wednesday too based on one negative article written and it had a 25% or so fall on one day back in September and held low for awhile too. My Alibaba (HK) stocks are down 25% for a few weeks now due to rumours of possible regulations affecting them, and is still down. My Nikola shares fell nearly 25% last Monday night (USA time) due to an issue with their partnership with GM, but then jumped back up after positive news.
However regardless of what people may think of the 'Miggster product' lets be realistic here on what price we paid for the shares - I did pay only $0.032 AUD for them 2 months ago and not the same $501 USD price I pay for a highly valued product shares like Netflix's, so lets not compare oranges and apples. Remember we didn't pay that $501 for a Porsche, so shouldn't expect our current $0.099 Kia to look nor perform like one (yet). In other words we paid for penny stocks a similar price to what pay for speculative mining exploration companies that have not discovered anything and have no revenue nor product yet.
Now if you looked at the Buy & Sell order list seems that very few people were willing to sell under 0.110 for most of the day, and very little activity today as a result - only the occasional person selling which caused it to just drop a bit a few times from yesterdays price. Everyone seems to be holding and not going to sell below the pre-suspension close price.
Buy-Sell order list around 3:50pm (looked similar most the day with few in price range in the sell column):
Todays trading (can see the only one major stock holder person sold off a bunch around 10:30, and then every little of any other people willing sell):
Another positive is today, and even on Wednesday there wasn't any big volumes the final 30min nor in the after market hours, only a couple people managed to do a sale in after-hour trade today when in was watching. This generally means it isn't just day traders trading the price movements and is instead mostly long-term holders believing in the shares. As day-traders and short-term traders would normally all would sell that final 30min to close their positions on stocks. People not sure would of watched the stock price on Wednesday and then tried off-load their stock the last 30min too.
The price it is sitting above the price it was when "news" starting coming out about the pre-registration numbers: for example the price was $0.053 for the two days after they announced 1.8Million pre-registration numbers. Considering it was one of the top 3 most traded stocks that week prior, based on the news, and yet didnt have a 'sell based on the news' movement this week neither is even more promising. It even didn't fall anywhere near on Wednesday morning as low as the price ($0.036) that it was in September when Emerge had initially announced to public on ASX about their new agreement & partnership with TIM (or Crowd).
Or after news like Motley Fool wrote back in October 26th that seemed to know exactly we all knew and thought already about their partnerships affiliate marketing etc.., Written by author's (that their LN there) shows that they seem to be proper authority to comment in investments too, aka with experience with investment portfolio's and asset management, and thus said it seems a good investment.
https://www.********.au/2020/10/26/emerge-gaming-asxem1-share-price-sees-explosive-growth/
Which thus means most investors thought of it as it is and not shocked by its affiliate marketing (like seemed be already shown in Motley Fool too), and were not tricked like 'downgraders' seemed to suggest in prior forums. And that all knew these were pre-registrations and not meaning they were all going be paying member; cos otherwise investors would of valued it already like a major gaming company and we would be paying the same as Tencent shares with a $76 USD stock price.
(20min delay)