It's one of the challenges of investing in a micro cap.
Being very thinly traded in the absence of regular news flow and/ or a catalyst to excite the market what often happens is a gradual, yet consistent soft landing of the SP- exactly what is playing out here.
The price will ultimately reach a level where it becomes irresistible to many and the decline will halt ; or an even better scenario occurs where management are able to announce positive news - significant new contracts for the oil and gas side as well as the HPCaaS which provides the catalyst to reverse the decline.
I'm holding for now but when the trend changes to the upside; at these prices there will be some significant value to be made by adding to a position.
Ann: Restructure of Services Business Line, page-19
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Last
$2.64 |
Change
0.050(1.93%) |
Mkt cap ! $311.8M | |||
| Open | High | Low | Value | Volume |
| $2.63 | $2.66 | $2.62 | $108.5K | 41.05K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2461 | $2.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.65 | 2070 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| DUG (ASX) Chart |