Writing on the wall here, apart from the spike from the surprise TGA reversal on MDMA therapy, the 12 month chart is in a sustained downward trend and we’re now raising (yet again) at the lowest of lows. We’re basically risking becoming a meme stock of the ASX.
Normally I wait to see the details before criticising a C/R but so soon after the last and at this level, I’m worried. It’s one thing to raise to build the business in the market it dominates, but it’s another to raise because the business needs to get into a new market and it seems we’re forever chasing a new market. Something is not right here. Hope I’m very wrong.
EMD Price at posting:
8.0¢ Sentiment: Hold Disclosure: Held
