I always assume the market is running ahead of disclosure on the rumour, and at some time those who sold the rumour will buy the fact and lock in a nice trade. But to say it doesn;t take much to move the price isn't right in this instance. Volumes have been up substantially since the Wynoo snaffu CR, and yesterday alone 1M shares traded at the cost of ~$2.5M... more than chump change. This may be the bottom or close to it, but something has caused a long and increasing sell down, coinciding with the CFO leaving yesterday.
Exactly what has spooked the horses we don;t know, though I've postulated a couple of good explanations. If retail knew what the issues really were, we could make a judgement on when the 'sell the rumour' crowd has pushed things too far.... but we don;t. It's a falling knife, a gamble, at some time it will bounce and teh last buyers will be heroes. Technically it is sitting near very long term support, broken only for 6 months during worst of covid. Chart set-up looks good...
HAS Price at posting:
$2.33 Sentiment: None Disclosure: Not Held
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