Hi midmid. The current price spike is being driven by sentiment in the MM sector. I must admit, even I considered jumping on board for a short term trade when they topped 3c with an expectation they'd likely get to 5-6c, which is indeed what played out. That is indeed what happened, and no, given the company fundamentals I didn't have the appetite for risk, but if I had I'd have sold by now.
Congratulations to everyone who bought at the lows, especially if you sold out at a profit. It was easy to see this opportunity but given the nature of the company you needed to be brave.
Because of the overall global market sentiment in MM this was the first time I'd been tempted to make a short term trade in AEB, but other than that I've said similar things about AEB in most of their price spikes, and I repeat the rest I've said which is that I believe this is being driven by market sentiment, claims and promises they can't/won't keep just like every time before, and it won't be long before we see new all time lows.
Feel free to check the chart, pick and spike spike or short term rally like this one, look up the HotCopper threads just after them and every time for the last 5 years you will see me say this (including congratulating anyone who made a profit on a short term trade, which I don't recall anyone ever claiming to have done).
I have been correct every single time and people like you have been wrong every single time.
I've been watching but I figured the flurry of ecstasy didn't really require me and my post would be lost in the noise, and this is always a busy time of year for me, I often end up in airport gate lounges or international buses with a phone and dead time, but right now I'm visiting Australia and very busy. However, I dedicated the time during my morning bowel evacuation to responding to you tagging me. You're welcome.
Keep in mind, AEB has not yet actually delivered any profits or anything with the MM, and their claims and promises are very vague. Keep in mind this is exactly what they have done before with many previous projects, all of which they promised would generate large profits in a short term, and none of which generated any profit in any timeframe. Keep in mind they are still pulling huge wages, the same family is on the payroll despite the 'change of management'.
Your money, your choice, have fun.
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