Problem isn't sellers, it's a lack of buyers.
Got literally next to no buying with an rally on oil prices roughly 40% of market cap in cash, profitable, meaningful revenue and no debt.
Why?
People are always gonna sell but no body wants to buy even in a market rally with the sp at a massive low and backed by a very strong balance sheet.
The comment about this being held back by punters and short term retail holders is a absolute joke of a cop out.
People have said that for years, look at the volume, we are illiquid. Only action this has had since the announcement of the buyback is people selling into it as investors give up and move on.
I must be very stupid to even consider buying back into this myself, already got a better return in the two months I've been out then the two years I was holding.
The balance sheet and revenue tempt me at this price but the fact no body else is seeing the same and buying is a big red flag.
This stock has a stink on it and it's hard too see a fair value being achieved as absolutely nobody is buying.
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Last
1.0¢ |
Change
-0.001(9.09%) |
Mkt cap ! $47.72M |
Open | High | Low | Value | Volume |
1.0¢ | 1.0¢ | 1.0¢ | $103.3K | 10.33M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 1550000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 44349355 | 38 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 1550000 | 0.010 |
37 | 27631055 | 0.009 |
16 | 3687698 | 0.008 |
5 | 3710000 | 0.007 |
4 | 6995000 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 44349355 | 38 |
0.012 | 13851427 | 20 |
0.013 | 16111418 | 17 |
0.014 | 12877951 | 16 |
0.015 | 7042920 | 11 |
Last trade - 14.03pm 17/09/2024 (20 minute delay) ? |
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BRK (ASX) Chart |