Don't quite understand the logic behind what you said here, sorry. Share price going down = more desirable?
It just looks to me like a typical day trader dump on a penny stock. The short term traders who bought in and thought they could double/triple their money in a few weeks have started to exit because they're impatient. With the release of the new announcement today, they're realising that the drilling program is going to be a few months long (which us long termers knew anyway). It's all about opportunity cost for them. Why sit and wait in a stock when they can take their money and trade it on other momentum stocks before potentially coming back to STM. I'm sure they'll be keeping an eye out for a re-entry when STM starts moving upwards again and the drilling program is nearing completion.
These are the ups and downs of a penny stock.
As for us patient holders, nothing changes and the goal posts haven't moved. A few months of holding and we'll have our answer, hopefully.
I'll be urging the price to drop lower so I can look at top up in the late teens now that I have a little bit more cash available.
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Last
1.0¢ |
Change
0.001(11.1%) |
Mkt cap ! $38.51M |
Open | High | Low | Value | Volume |
0.9¢ | 1.0¢ | 0.9¢ | $1.316K | 146.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 1903619 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.0¢ | 1738034 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 1903619 | 0.009 |
18 | 5286623 | 0.008 |
26 | 9293039 | 0.007 |
11 | 6571766 | 0.006 |
6 | 5610009 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.010 | 1738034 | 5 |
0.011 | 3388860 | 10 |
0.012 | 6567980 | 14 |
0.013 | 1865842 | 6 |
0.014 | 500000 | 1 |
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