Great announcement for long term holders.
RLT was a major holding for me once upon a time but am just an interested observer atm.
Long term this announcement is fantastic and certainly derisks a lot.
Short term it's anyone's guess but I'll throw up a few things to ponder.
Firstly, it's a great announcement and the stock has been held down for a long time. So a run is well overdue - hopefully this is the option that follows.
Obviously the CR risk is the one that has me spooked and I'm guessing a few others.
The last quarterly said there was one quarter of funding remaining, so unless there's some pre orders coming in you'd have to think a CR is a chance.
The 250k order that was placed to cap price adds further weight to this.
There's only a handful of ppl with that amount of shares and I'm guessing there's a fair chance you won't see any change in the T20 - so who could have done this?
Perhaps someone that not only knows a CR is coming but is helping orchestrate it (allegedly)
There's been quite a bit of volume recently and this large order today adds to that - would it be cynical to think that's to manipulate VWAP before a raise?
If so, the VWAP since volume has ticked up is around 73.5c.
I'm guessing the 250k gets eaten (that may anchor vwap to the price needed)
Obviously be dumb to sell 250k shares on the back of a company making announcement - unless of course you knew you could get them back soon after in a CR (potentially at a discount)
I did see mention of a 'sell the news' event and agree in part but this isn't a typical set up for that. As you'll normally see an artificial pump to get ppl liking the stock then a great news release to get buyers stepping up (as company just got better) - that's when the sell comes (into the artificial pump on a liquidity event)
As for Nasdaq, that will take money to list and I'm guessing investors wouldn't run to buy if the companies cash reserves were zero...
Anyway, just throwing out some thoughts to ponder.
Regardless of the ST price moves don't mistake that this is a great announcement and should serve LT holders well.
All the best and hope you all get some bags from here...
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Mkt cap ! $26.23M |
Open | High | Low | Value | Volume |
90.0¢ | 90.0¢ | 86.5¢ | $6.59K | 7.614K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 5952 | 84.0¢ |
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Price($) | Vol. | No. |
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86.5¢ | 90 | 1 |
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No. | Vol. | Price($) |
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1 | 750 | 0.700 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.865 | 90 | 1 |
0.900 | 477 | 1 |
0.945 | 22714 | 1 |
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