Well, not quite. To be fair - it was more like 500k shares (in parcels of up to 100k) going through yesterday in the last hour of trading for below 10 cents each. But than, even the 100k share parcel is less than $10k. Too much for bots and not enough for institutional investors - i.e. that's the small mom and dad investors giving their shares away for a song. Hopefully they made a gain, but if they bought recently - I doubt it.
I suspect a lot of stop losses triggered at or below 10 cents - but given that price did move up at the end - I suspect, this might be it. Capitulation time?
So how much is a company worth which can generate $70m in earnings year after year? At a PE of 10 this would be $700m USD this is - brings us close to the AU$1 per share if we assume a billion shares. Not too bad for a share you can buy at current for 10 cents - isn't it?
Obviously - if they build some more factories to accommodate for the growing HPA demand, the share would be worth more - but hey, this is just a bonus
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