Yep, not too much action on the news release. 0.8 has gone bid which is nice... there was only 7mil offered at 0.8 on thursday. Offers are stacking up a little bit on 0.9 but it seems to be slowly being munched in half mil amounts on the chi-x. Which kind of feels like retail to me.
About 8 million traded (roughly 4mil bought into 0.9 on the Chi-x and 4 million sold into 0.8 on the ASX) at 11am. Not exactly the gap up above 1c on the news everyone had been waiting for, so if it doesn't move now after a 3 day halt... when?
My understanding was that the Canntab export license was NOT a sure thing, so my prediction that this would be positive for the share price, if it eventuated. Obviously I was wrong, at least in the immediate response.
Now the question is, will it eventually push forwards, and what will make that happen. Buyers, I suppose. Guess I'll go back to watching the paint dry! Please excuse my tone if it sounds negative, I'm a cautious trader.
CGB Price at posting:
0.9¢ Sentiment: None Disclosure: Held
