some sense at last

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BatBurf

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02/05/24

19:34

Post #: 73638196
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Originally posted by Areo: ↑

I doubt its manipulation and the company appears to have ruled out the leak of any negative information. Thus, likely pure capitulation. Someone talks loudly in a small room and before long everyone is shouting at each other. That's certainly what has been going on in this forum for a fair while now.

(Not sure who to credit for this, unfortunately. Anyone know? 'Reckon I saw it in the AFR 30 odd years ago!)

This is a retail stock - many institutions can't get this stock through their negative screening tools (Cuba is considered a 'State Sponsor of Terrorism' by the USA, and SRI criteria may also reject Cuba for other reasons, including human rights violations).

Some have been suggesting the company is not providing regular, or meaningful, commentary on a lengthy drilling campaign and this is probably evidenced in the share price. Given the risk MAY carries - a complicated well in a sanctioned, broke, state suffering civil unrest, astute investors have been exiting and putting their money elsewhere - taking advantage of an overall market recently hitting new highs.

A lot of punters are just 'over' MAY (how many here copped a beating when MEO self-destructed?). Whenever there is cause for a price rise people are just going to use the liquidity to dump. Panic may have set in today and with blind conformity some just wanted out at any cost. Perhaps they were still in profit having bought a few years back and it no longer mattered to them. Tax time. Some margin calls too, perhaps.

But manipulation should be one of the last 'go to' when a stock is moving against your beliefs. It does happen - a forum like this can be the source rather than dodgy trades (and one or two HC people have 'gone down' over the years, IIANM) - but most markets can resist the effort of most individuals, I'd argue.

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some sense at last

MAY Price at posting: 5.0¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 2.1¢		Change -0.002(6.82%)		Mkt cap ! $70.77M

Open	High	Low	Value	Volume
2.2¢	2.2¢	2.1¢	$22.51K	1.074M

Buyers (Bids)

No.	Vol.	Price($)
37	8154955	2.0¢

Sellers (Offers)

Price($)	Vol.	No.
2.1¢	248027	5

View Market Depth

No.	Vol.	Price($)
36	7854668	0.020
11	1233820	0.019
5	683288	0.018
6	451884	0.017
4	2025000	0.016

Price($)	Vol.	No.
0.021	248027	5
0.022	5167295	12
0.023	3100000	4
0.024	2494362	7
0.025	1239199	4

Last trade - 14.57pm 08/08/2024 (20 minute delay)

MAY (ASX) Chart

some sense at last

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some sense at last

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