I dont buy into the capping theory , if you read hot copper then you read that nearly every single stock is being capped . In my opinion its supply and demand , if someone wants the stock then they buy and the stock goes up and vice versa .
Look at the quick run from the mid 2s to where we are now , buyers really stepped up and took control , now they have had their fill as demand softens or as the market waits further news .
Low cash reserves will be putting many off but mostly day or swing traders , if your long term holder then its a no brainer to pick some up at these levels and ignore the short term moves , and FYI , even though most Cap Raises are done at a discount , not all will retrace back to the raise price ,and if they do they dont sit there for very long , and this should apply to Magnum because they should have a tonne of news flow over the coming weeks and months .
If they do raise again then lets just hope that it doesnt turn out like the last raise where the participants flogged the stock back below 2 cents , what a disaster that was , they need to raise cash with a reputable investor who will support the stock and not the usual sharks who flog it for a measly 10% .
Roll on next week .
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Last
1.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.33M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 1557050 | 1.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.4¢ | 1098356 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
10 | 1557050 | 0.013 |
13 | 1729333 | 0.012 |
4 | 631500 | 0.011 |
2 | 101100 | 0.010 |
2 | 240000 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.014 | 1098356 | 3 |
0.015 | 450477 | 1 |
0.016 | 943567 | 4 |
0.017 | 368000 | 3 |
0.018 | 169935 | 3 |
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