So it seems as though some are quite upset or concerned with the sell down leading into close. Of course there would have been a lot of happier investors should it have closed at 2.4c but in the ST, MT and LT this one day of trading at par really doesn't have any negative impact, in fact there are plenty of things to consider which actually makes today a great day for all holders.
We know that with such a liquid stock we are going to have DT's on and off it - it's unavoidable and it's a good thing. It's very rare a "team" of DT's will ramp up a stock (boost SP) with no credentials, if they did then they wouldn't be able to get the sheep to join in as there would be no basis for the SP to keep running. We know that this DOES have credentials, the FA here is undeniable and now the relationships GAL have made are putting them into an arena with the right folk.
Today we had a VWAP of 2.15c with the close on 2c, in fact only 15 million shares of the 110 million traded on the ASX were traded at 2c. It was a clear manipulation at the end of the day. I know Dr.Seuss mentioned that they (the pro's) worked this up, took profits and sold off and some of that may be true but I think that a large percentage of investors buying in today were buying in today because of FOMO. They were always going to buy in but were maybe hoping for sub 2c. When they realised that wasn't going to happen and they feared the train was leaving the station, they jumped on board. Of course many of those would now be wishing they had waited but I can't imagine them selling out now to try and get in lower - they have more than likely in the most become sticky hands, leaving less available shares.
Between both exchanges, investors pushed hard all day buying up approx 150 million shares and the SP sitting nicely at 2.1/2.2c - not at the high of the day but there are always going to be profit takers and weak hands selling out completely, then with one swoop, 12 million got smashed down to 2c.... IMO this was instigated to give the old tree a good shake and along the way a few crapped their pants and sold off with them. Given the VWAP it was hardly a good "investment" strategy and I think that's the most reasonable explanation.
Tomorrow will be interesting, that close may weed out a few more cheapies. The gap at 1.7 may get filled, it may not. IMO it will open up at 1.9/2c and they will clean up whatever they can at those levels and from that point forward we may never see sub 2c again. So much on the horizon here and news could come at any time. It's really not worth the risk of missing out here and holding (not trading) is the only way to guarantee you're along for the ride. On POTENTIAL alone, this MC should be closer to $100M (fully diluted) but when this all comes to the fore, even that MC may seem cheap as chips. If you ask why, remind yourself who this product (which seemingly has been accepted as a success) is directed at, then ask yourself who has the biggest population in the world!
One more thing, leading the way on shares traded (volume) on the ASX today will bring this to the attention of some that may not have heard of it before. Not a bad thing at all!
GLTA holders, especially those who are willing to tie up their shares and make it harder for the pro's to get their hands on them.
CnS
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