I reckon it’s big fish buying on market that has powered this recent run and driven the price up from around 75c. Maybe a potential cornerstone investor or two getting a toe-hold on market before stepping into a placement of some sort in the next round of fund raising.
We won’t know if this is the case unless they hit the 5% substantial holder mark, or if it is broadcast publicly for some reason. But the nature of that run has looked very much like institutional/investment house buying to me.
AXE Price at posting:
$1.68 Sentiment: Hold Disclosure: Held
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