WBT 0.34% $2.97 weebit nano ltd

Let's just sit back for a while and recall events from Feb / Mar...

  1. 142 Posts.
    lightbulb Created with Sketch. 117
    Let's just sit back for a while and recall events from Feb / Mar this year when EVERYBODY knew we were heading for inclusion in the ASX300. There was a buying frenzy by brokers. Index funds cannot buy until a company is actually in the bracket they cover so were not able to buy until the date of inclusion. Brokers are not stupid, they bought, thus pushing the price up then sold to the funds at an elevated price which smart investors knew was not going to be sustained. Brokers made a tidy profit and shorters had the same line of thinking and pushed the price down and made a killing. Look at the facts (sorry to let facts get in the way of discussions here): shares were at $3.48 at on the first day of trading this year and closed yesterday at $3.92. By my calculation, that represents a 11.2% return on investment for the YTD. I, like a number of others, took some profit thanks to the elevated price engineered by the brokers but now find myself holding 20% more WBT shares than I had at the start of the year, possibly with thanks to the bottom feeding sycophants who shorted the stock and made it too attractive to resist the urge to buy..
    Like some others here, I feared the worst when I saw the Friday evening announcement about the Quarterly Rebalance but was pleasantly surprised to see WBT transition from ASX300 to ASX 200. I see no reason why events of Feb / Mar will not be emulated in the period between now and 18th Sep and would expect a large trading volume at an elevated price at the close of trading on Fri 15th Sep. Yes, the bottom feeding sycophants will be queueing up at the Fund Management doors on the 18th but I suspect the risk for shorters will be higher by then.
    One must also wonder if Mitsubishi tapped into Nostradamus and bet on WBT moving into the ASX200 and decided to get in early thus providing extra income by lending to the shorters and provide some income from fees whilst waiting until 18th Sep.
    All purely hypothetical and not constituting advice, but I have not seen any evidence to disprove the hypothesis at this stage. Welcome any offerings that find holes in the hypothesis, but am quite happy with my 11.2% return on investment for YTD which is highly likely to improve by 18th Sep. My overall return is much higher (by an order of magnitude) for my initial investment from pre-consolidation days in 2017, so have no desperation to sell.

    AIMO

    It pays to be nice to me as I have now reached an age where a major felony which attracts a life sentence is a more attractive option that the aged care system.
 
watchlist Created with Sketch. Add WBT (ASX) to my watchlist
(20min delay)
Last
$2.97
Change
0.010(0.34%)
Mkt cap ! $560.1M
Open High Low Value Volume
$2.97 $3.01 $2.89 $1.472M 500.7K

Buyers (Bids)

No. Vol. Price($)
1 25627 $2.93
 

Sellers (Offers)

Price($) Vol. No.
$2.97 8118 1
View Market Depth
Last trade - 16.10pm 06/05/2024 (20 minute delay) ?
Last
$2.95
  Change
0.010 ( 0.62 %)
Open High Low Volume
$2.98 $3.00 $2.89 85058
Last updated 15.59pm 06/05/2024 ?
WBT (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.