Damn we couldnt crack through the 3.2-3.3 level, frustratingly still a lot of supply there, perhaps some CR participants getting out. Also doesnt help that the last time he announced record revenue was followed 3 weeks later by a captial raising, lets hope history doesnt repeat. Funny with great news like this, we end up flat, and other stocks I have like ESR with no news (around the same price as ECS) easily fly up 5 ticks .
Anyway atleast sell supply is getting eaten up and the support is thickening up , sell supply at these levels will have to run out eventually. Alex needs to ensure the market they are well capitalised for the foreseable future and I bet this would move up a lot quicker, the pattern of CRs doesnt exactly encourage investors.
Im actually happy with this ann though despite the price action, fundamentally looks so solid, I like how quick they got the structures up and crops growing, compare this to CAN who with over 3 years and spending $150 million and even further 20 mill in debt and still dont have a greenhouse up and running, yet valued at triple our market cap. We are just speeding past them and market is generally unaware, when cannabis etfs pick up again and funds are researching and looking to place their money in the sector in Aus, we should be pretty damn solid choice, pharma offtake deals, medical cannabis, CBD, hemp food, cheap and quick harvests that are growing in size. All looking lovely jubbly, besides those f'ing sellers!
ECS Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
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