But next week we have 799 million shares coming onto market that were issued at 1.1 that have free attaching options. Even if they dump at 1.1 cent, they still get the options, basically free money for them to dump at 1.1, risk free.
Market knows that you will have billions of new shares coming onto market at this price that will be making money (through options) even if they dump at 1.1, so dont think we will be moving anywhere soon.
I actually pulled my orders at 1.1 today and think we might be seeing 1 next week (I hope Im wrong), if we hold 1.1 next week ill be more comfortable, but even then you got the second tranch of 3 billion odd shares coming onto market after the 27 march if approved, something for everyone to be aware of and keep an eye on, dont think we will be moving too far away from here unless there is significant news.
ATH Price at posting:
1.1¢ Sentiment: Buy 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)