To add something more I just added to my holding here after noticing the price had reached lowest since launch.
….Which - based on my past experience - is no indication it will not fall lower.
My logic - such as it was is;
-currently the market is one that many are cashing out of, and Pentanet is NOT an exciting company in the near term in regards potential for ‘zoomies’.
- But it seems solid
- Maybe it is being hit particularly hard by the selling of some/all of the 12m shares that came out of escrow late last year plus stop losses?
… Also IPO investors (25c a share ?) are still well in profit and might be heading for greener pastures? (Ouch that’s a lot)
- BUT there will be a base from which the price will turn around (I hope) and maybe I should have waited till then except I am impulsive and hope others with deeper pockets and analytical skills will see value and start buying too.
-Market Cap $86.07M (at 40c a share) and last quarter it had ~$29m cash [quarterly results 27.10.21] minus $4m since then, invested in Canopus.
I think/hope the price will turn round if all goes as management hopes.
cheers
5GG Price at posting:
39.5¢ Sentiment: None Disclosure: Held
