Nice post. This is my exact understanding of the lack of SP appreciation this week on an announcement that would have given a min 30% SP kick for a cash flow positive company of similar MC.
I think given the length of delays to date for this contract formalization, the market appears to believe the finance will take longer than forecast and maybe the announcement was rushed to meet investor roadshows, an unexciting H1 report (including large write off) and to help halt the SP slide. I don't believe for a minute the contract just happened to be signed this week.
But certainly (well you can never be certain with FLC) it should stabilize the SP for now. The SP rose on over ten times the volume than it pulled back on each of the last 2 days. Only the battle hardened longs remain at this time, so they will not be selling off at these prices given we see a chink of light to sustained profitability with this new contract and validation of the business to secure such big deals.
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Nice post. This is my exact understanding of the lack of SP...
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Last
8.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $96.20M |
Open | High | Low | Value | Volume |
9.1¢ | 9.1¢ | 8.7¢ | $7.174K | 80.54K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 24999 | 8.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.1¢ | 6467 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 24999 | 0.089 |
1 | 106512 | 0.088 |
1 | 99983 | 0.087 |
2 | 123529 | 0.085 |
1 | 91220 | 0.082 |
Price($) | Vol. | No. |
---|---|---|
0.091 | 6467 | 1 |
0.092 | 22320 | 1 |
0.096 | 8791 | 1 |
0.098 | 47242 | 2 |
0.099 | 10000 | 1 |
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