This chart is starting to look a bit eerily similar to the IMU chart of late 2021 in April of that year the SP was under 10c, in under 6 months the price went up too over 60c (6 fold increase)) on reported good results (and rumors) resulting in a near 3 billion MC and entry to the ASX 200, (sounding similar) This was the start of a long unwinding retreat. was this overvalued and pumped? Most definitely imo. Lets ignore for a moment the SOI difference of the 2 companies and the fact CU6 is in a hot sector atm as was IMU back then. In Dec 23 the SP of CU6 was around $1.50 by September the SP had shot up to $9 (6 fold increase) valuing the company (you’re guessed it) around 3 billion on reported good results and rumors (takeovers?) and entry to the ASX 200 We are now in a steady decline with no bottom in site imo Not for 1 minute am I suggesting we will end up the same way as IMU did but was we overvalued and pumped when we hit the high at $9 and valuing us at 3 billion for a non revenue company I’m afraid it is in my book.
CU6 Price at posting:
$4.55 Sentiment: Buy Disclosure: Held
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