Seems to be a floor under the price of $1.05 - maybe Blundy is buying some more on market - he can do so now given the results are out in the public for period ending 31/12/2017 - after it goes ex-dividend this Friday we may see a management buyout or if not Friday then maybe next week.
They would also have seen the first 2 months of trading as proof if things are going well. Remember, this company was trading at $1.96 per share 2 years ago - and footwear is different to other retailing - people generally want to try on before buying.
And takeover price if it does come - about $1.25 to $1.30 - which is still cheap. The fact that Agostenelli and Blundy own a touch over 20% means something is up - ASIC may question that as it may be in breach of takeover rules - one individual cannot own more than 20% as I understand without launching a takeover bid.
Smells a little odd.
AX1 Price at posting:
$1.06 Sentiment: Buy Disclosure: Held
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