PGC has never traded 3m shares in a day as far as I can tell. The slump after the last capital raising was more a death of a thousand cuts, and barely topped 400k in any one day. The soak above 58c has been extraordinary. I would be most surprised if that isn't the base. The nearest we've got volume wise was when it tried to get under 23c just before the end of the 2013 financial year with a massive bailout being absorbed by a few of us on this forum, and others that got the volume to 2.94m but that was for the whole week. One buyer won't hold the price up, so there must have been some competition. I don't think you'll have anything to worry about olddizzy. I might even go out on a limb and say inside two weeks today will be a distant memory.
The only caveat I would add is if enough holders panic to encourage buyers to sit on their hands and see how low it might fall it might get ugly. That should have happened today if it was going to, so I think we're safe. I am looking hard at the rest of my portfolio to see what will get thrown under a passing bus if that happens.
PGC Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
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