It isn't ideal I know, but it's unfortunately designed to get people to sell down. Just be patient. Remind yourself of fundamentals and what's happening now:
- Revenue is up 18% year on year for FY24
- Extremely strong cash position ($19M in reserves)
- Contract renewals and expansions in NSW, QLD and the US (0.8M in Georgia)
- Revenue from outside AUS went from 1% to 4%, so in other words, there's huge room for growth
- Named 2024 Vic scaleup of year (more exposure than anything else)
- Won CIHT Road Safety award in UK, which is a big deal https://roadsafetygb.org.uk/news/acusensus-road-safety-award-proves-distracted-driving-being-taken-seriously/
- 2 lots of insider buying within the last 6 months
- There's a patent case with a close competitor, if they breached our patent well they're majorly screwed for future tenders
- RAC offered huge support for ACE in the UK (the UK version of the RACV who have a lot of authority and pull there)
- We just hired Violet snell, one the pioneers of AI machine learning, it's a huge scalp
- State governments have all been increasing their spend on road safety, so the money is growing
And just now someone purchased over $150k of shares this arvo. So that's pretty much vindication with regards to what i was saying about the SP being driven down to allow someone to enter at a lower price. They've obviously been pushing it progressively lower from 600 to 550 to hit this mark, purely so that this big kahuna can purchase such a large amount on market. This is the proof right here of manipulation. I don't expect it to be drive down much more now that this instigator has occurred (assuming i'm right).
Trust me when I say, just hold onto your shares.
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