I tend to disagree that the news was priced in.
The news was only priced in by the insiders.
Rest of the public like myself only came to knew yesterday.
The trading is dangerous here. The bots are working hard to prop up.
So far 30000 units traded today including ASX and Chi-X.
That is very disturbing volume.....One real seller emerges with few 100k shares,
the price will be below 1.40. There are no real buyers for the stock.
I am thankful the bots let me get out with a small profit.
Won't think about buying until it hits 1.20 or below.
At 1.20 it will still be a 435 Million market cap for a company which is still losing money left and right.
Currently the market cap is 550 million, too high for a loss making operations. I had a fairly bullish view but yesterday's announcement has changed all of those.
Last few weeks shorting/selling was indeed based on inside information.
WGX Price at posting:
$1.51 Sentiment: None Disclosure: Held
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