I find it very interesting however. that if you look at the original top 20 shareholders from float, and the top 20 shareholders less than 12 months later they are all pretty much the same, the majority of the top 20 holders have accumulated bigger stakes.
They did have a chance to offload there stock at a 300% + premium to what they paid also when the stock was 70 odd cents.
Now if you can figure out why they haven't taken 300 or even 100 or 200% when it was there i would like to know.
For me if the top 20 is staying strong when there was 300% gains for the taking it is good enough for me.
Capital raising b Instos buying at 30 cents should set the floor.
Short term if the price rises to 40 cents it could be an opportunity for the day trader, but long term, what is a 200,000 million tonne discovery of copper worth.
also worth noting that with the way the market depth has been it could have been very easy for the stock to push towards 20 cents and even sub 20 cents. But off the screen buyers have really kept this up.
Not a whole heap of big selling has been done under 25 cents, so that might be a floor.
close of 27 cents today, it appears volume is becoming more from the buy side pushing the price up. slowly. not crazy buying, but enough that may create a short term trade up to 30 maybe 34 cents... downside limited i think at 25 cents
AXT Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
