Stock which have been in a horrid price performance period (such as ALC from the 14.5c peak in Dec to a low below 6c last month) will need time (specifically volume churn) to rebalance to fair value.
This is because there are a lot of sellers who lost faith in the story on the way down & take advantage of spikes to sell in to (as we saw yesterday).
I personally know of approx. 1.5m shares which were sold yesterday due this very thing. (None of my stock, but friends etc).
The FA of the company has never been in a better position.
This churning period will be short lived, but must take place for the re-rate to become more powerful.
You'll also notice that each time this 'flush' occurs, it re-bases as a slightly higher level... this is key & should reinforce the argument that the above it taking place.
Over the last month we have seen 3 major contract wins as I've previously outlined. Lets see what the remainder of April brings - I'm quietly confident of at least another contract win given the momentum is building strongly on the commercialisation side now.
One of the most powerful adages I invest by is that the stock market is the transferrer of wealth from the impatient to the patient.
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Last
5.1¢ |
Change
0.001(2.00%) |
Mkt cap ! $68.46M |
Open | High | Low | Value | Volume |
5.1¢ | 5.2¢ | 5.0¢ | $25.90K | 512.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 116190 | 5.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 120000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 120000 | 0.050 |
1 | 4166 | 0.049 |
3 | 404000 | 0.048 |
2 | 91297 | 0.047 |
2 | 600000 | 0.046 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 120000 | 1 |
0.055 | 281145 | 6 |
0.056 | 53500 | 1 |
0.058 | 86744 | 2 |
0.059 | 169500 | 1 |
Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
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