Current estimate of stock held by those outside of my calculated top 22 is just under 40%. ie 60% held by top 22. We have one known seller in top 10 (Glen White super fund) now holding less than 5%. May continue to sell down gradually as moves on after a solid career.
General crash in markets in April due to covid saw pricing fall to ~5c min we also have some profit-taking to absorb from these buys.
Other than this, supply is relatively tight with most insiders having a good perspective on progress.
April news should be extension of profitability story and indication of EBITDA for 2H. My estimate of ~$7m for FY to be tested in April. If Aprils 4C is even close to my estimate then SP should move rapidly into 20c+ range in anticipation of FY.
ACU Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
