Some really exciting stuff happening through the week, particularly at the end of the week. The decrease in share price was the least exciting part, but that's just one of those things you have to deal with if you want to invest in the sahre market.
Overall the company is in much better shape than it was at the start of the week (market cap aside), but reality does tend to have a way of catching up with the that particular aspect, and in the case of EXR, exceeding it.
Big volume this week, almost 50 million shares traded, but the sentiment was sell. Over the course of the week the closing price dropped by 7.59% and the VWAP dropped by 9.78%. Thankfully we had a reversal today with the VWAP rising to 37.1c, well clear of the closing price of 36.5c. The weekly VWAP was 36.9c, but today was 37.1c.
As we've seen before big volume either equals big drops or big jumps. Although this week was a drop, the only week this year that had higher volume was the week ending 26 February. That was a green week and saw an increase of 37.84% in the share price.
Another thing to remember, the last two weeks have only reversed the last two weeks gains. The VWAp for the week ending 9 April was 36.2c. The next two weeks saw weekly VWAPs in the low 40's, and we still haven't dropped back to the prices from the first week of this month.
Although unpleasant, the falls have not been catastrophic and this play has not become any riskier, in many ways it's de-risked. Anyway, that's the fun of the market. Key metrics below. Have a great weekend.
EXR Price at posting:
36.5¢ Sentiment: Buy Disclosure: Held
