Sometimes what you see in spec type stocks is that existing large holders wait for announcements before adding to their holdings. That is, they let the business prove itself over time, even if they have to pay higher, and build a position over a long timeframe as a company is derisked.
it may be that this announcement is not significant enough to draw in new players of substance as the company admits the deal is not financially material. So my guess is one of the top 20 holders took another bite today who were already familiar with the business and just waiting for some more affirmation. If so, depends on whether they got their fill or have a bit to go tommorrow. But once thats done we'll see what sort of follow through there is. Other than a bit of retail fomo on top of a suspected large bite from someone it could well fall back as the stock goes quiet for a while until the next announcement.
My view is it will take proven revenue flow not headline deals to underwrite a more sustainable drive in shareprice.
YOJ Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)