Perennial will cap the share price until its out and, unfortunately, it has 10.8M shares left to sell to people buying today...
More importantly, they sold a truck load on 7 Sept when the 'Breakthrough Welding Wire Composition Project' news was announced, which suggests that management has ceased communications with Perennial.
Mind you, this announcement is only up to Tuesday --- so Perennial would likely have offloaded loads of stock yesterday and today. As we suggested a few days ago, the recent increase in volume suggests that Perennial would sell more and get out faster. When they get to 5%, they won't be required to announce their sales anymore to the market.
The share price closed at 17.5c today.
Looks like going lower...
AL3 Price at posting:
17.5¢ 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)