Friday was a good example of how sentiment can drive prices in low liquidity high risk shares. First announcement just before midday states SPP under subscribed and the share price dips on low volume sales. Just before 3pm announcement released stating a provision for funding is in place and price rises on a higher volume. The market is still uncertain how CHM will trade. It thinks its near a bottom but is still waiting for confirmation. But buyers are willing to start to pull the trigger now on good news, just incase. Largest volume trading days in the past few weeks, so we have a good base in the 3.7 to. 3.9c range.
CHM is now funded to get its planned trials underway and progressing. Market cap is just a few multiples of money in the bank now, so very little value on IP.
Good range now to accumulate. Lots of upside potential here and it wont need a lot io get it going.
Still high risk. Worse case is end of year to early next for trial updates (could be good or bad). But highest dose for GBM now being administered so maybe earlier.
An update on the NK cell trial could come out of the blue.
The chart is primed, sentiment is turning. But it needs a good announcement now to make it pop. A lack of news now will mean more low volume moves between 3.5c and 4c. Opportunity for some.
CHM Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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