The reason the share price is "holding" is because the stock is illiquid. There is no rush to the door because there is only an abyss on the other side.
Even if NOR lands a hail Mary deal all that will facilitate is an opportunity for stuck holders to exit. NOR doesn't have a moat - heck, it's not even demonstrable it has a commercially ready product.
NOR is a train wreck which should not be allowed to continue as a publicly listed company. If it's directors (intentional lower cap) genuinely thought they had something to offer they would do the right thing and delist, build the business and then when the time was right re-list instead of taking up valuable space in the equity market.
This AR is a horror story, there is not one marker in it to suggest the company is viable. The directors should be hanging their collective heads in shame.
All in my opinion of course.
The reason the share price is "holding" is because the stock is...
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Last
4.9¢ |
Change
-0.004(7.55%) |
Mkt cap ! $23.20M | |||
| Open | High | Low | Value | Volume |
| 5.2¢ | 5.2¢ | 4.7¢ | $63.17K | 1.307M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 4.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.9¢ | 69999 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
4.9¢ |
Change
-0.004 ( 7.37 %) |
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| Open | High | Low | Volume | ||
| 5.0¢ | 5.0¢ | 4.7¢ | 175100 | ||
| Last updated 15.49pm 03/05/2024 ? | |||||
| NOR (ASX) Chart |