Unfortunately, this stock is now moving to pricing on market principles rather than fundamentals. We are seeing a shift from valuing the business to valuing the business on market support floors that tend to kick in sub-20c.
Next support level is at 15c. If it moves below that for more than a couple of days, the support will kick in at 10c......and so on.
While I expected a 30c valuation 8 months ago, I would not have seen it this low. CoVID is a total pain.
Flipping the perspective, OVH has not been totally hammered - given the Sargon debacle. MAI, it's nearest comparable listed competitor, is down approx 40% over the past month......so a not dissimilar price trajectory.
Go away, CoVID!!
OVH Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
