The way MD is played with in such a coordinated fashion, to drop the buy side from 14mil to 4mil within a single move, indicates that ADO is controlled by a single manipulator/ accumulator.
Not often can one see such easy manipulation on the market.
This phenomenon points me towards a larger player wanting to control the price. Share register is tightly held, as we all know, most larger holders are long term set. This leaves a large manipulator room to play almost without competition, as long as price range stays confined to a small range without attracting day traders.
To be pushed down in price in this fashion after being further derisked in our position by receiving the US patent approval, allows the conclusion that we are very much in focus of an investor who expects a contract.
Negotiations would currently be in their most decisive period after the 6 month testing period for our large shipment of Mix&Go to one of the IVD companies was finalised just before end of last year.
Provided test results were positive, Jan and Feb this year should be used to discuss details of a contract. The obvious price manipulation we can witness might be a sign of such negotiations in progress.
Current trading further reconfirms the buy sentiment I have for ADO.
ADO Price at posting:
6.8¢ Sentiment: LT Buy Disclosure: Held
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