That I'd agree with... volatility and liquidity are what you need for optimal ST trading... both of which CHM lack.
However, there is still a lot of impatient money flowing in and out of stocks like CHM, those who buy in for a quick ST trade on an upcoming announcement. They would have done well with this announcement, with most likely buying in days before and then selling on open or shortly after.
That then catches some late money coming in post announcement (which was a very positive announcement), possibly hoping for a run-up and then turning a quick profit.. but alas, they were caught holding stock they had no intention of holding for any longer than a day or two... with that lacklustre SP movement, it may have also pushed a few holders out as well... and there goes the dump.
Which is probably where we are now.. waiting for the short term & impatient money to unload their shares.. and in the coming days/weeks we will see money coming back in and accumulating / absorbing any more willing to sell at these levels.. before long, if there is enough demand (which is likely to build over time, and especially after the actual SNO conference) they'll have to push the price up to get their allotment.
While the next cohort results may not be released until the first week of June 2022, a re-rate could come at any time.. whether it is triggered by another asset acquisition, progression to cohort 3, new trials, new trial sites.. or just a big investor wanting in. With so little shares on issue, and free float.. it won't take much to move the dial.
Each investor has their own investment timeframes, and with CHM for me, it's a LT one and while it can feel deflating for some who wanted this to rocket up, for someone like me.. it wouldn't have made much difference.. because even if it went to $1 I wouldn't sell until the tech either failed or succeeded. I'm not here for 3x .. this could be 100x+ and with that view it puts these small movements into perspective. I personally don't have the time nor the commitment to continually trade in and out of shares, so I simply buy what I want to hold and I hold until my investment thesis changes which will prompt me to alter my holding, be it to buy or sell.
This is just my way of looking at this investment and it's not for everyone. But while I may not make the few pips that the ST make in the short term.. I'll at least be assured a seat on the rocket if it ever does take off.
Goodluck all
CHM Price at posting:
30.5¢ Sentiment: Buy Disclosure: Held
(20min delay)