Very interesting trading day indeed. When I look back at the individual trades (using Comsec) there were very few 2.8c trades and indeed SP did rise to 3.8c in the morning trade. I note 1 small $1,960 trade 12:25 @ 2.8c then 15:37 drop from 2.85 to 2.8. A quick reckoning indicates +94% of trade above 2.9c and ~5% @ 2.8c so really set to fire again. For sure any lingering units left over from the undersubscribed share placement would have been wrung out today on the volume we've seen. As with many stocks the rise is early and good pickings at the end of the day. Nothing to worry about IMO.
Have experienced the pump and dump of MEO/MAY before more than enough, but am convinced this is quite different and really enjoying the making of this business and hopefully a few fortunes along the way.
GLTAHs
MAY Price at posting:
2.8¢ Sentiment: Buy Disclosure: Held
(20min delay)