I agree it’s surprising that it’s hit the low 4s today and settled at 4.5c. I can only assume there is a holder who wants out and was hoping they could sell into the strength of the news from the last quarterly or the 10m contract announcement, but then they must have seen the lack of volume and decided that the buyers weren’t going to appear and push it up anytime soon, they just decided to take what they can get and run.
im still sitting at a small position so happy to average in gradually over time and if that allows me to pick more up at low 4s then great for me. I guess it could go lower given the relatively massive run up from 1c to 6c for anyone who bought low. After a move from 1 to 6c there will always be long term holders who are in the red and fatigued so just want out on this uptrend as they fear a drop back to below 3-4c having seen it before
anyway as I said before, I’m no good at predicting short term sp action so the main thing for me is to be confident in the investment thesis ans aware of the risks. I am, thus I’m happy to continue to add a little more at these levels, then will play the patience game and add more after the next quarterly/ announcement that further confirms the growth prospects and serials the balance sheet and reduces the probability of equity dilution.
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