Welkin31, my thoughts are that increased trading volume activity in AMX has coincided with increased short sale activity in late feb/early march. Which of course coincided with a capital raising, so whoever the shares were issued to, used those shares for lending. As with any long/short (e.g. deposit/credit) system, there is the tendency to create out of nothing.
Took the AMX market cap from $5M to $600M? Head in the sand comment I reckon.
Post prospectus, the company had issued capital of $12.2M In the intervening time, AMX has raised a further $120M from shareholders... so all up about $130M of capital has been raised. With the current market capitalisation at $130M, it's not much bang for ya buck, in fact shareholders as a whole have got nothing out of AMX. If the capital had been used to buy a deposit at a bank, then we'd be looking at around $160M now; alternatively, if the capital was invested in gold, we'd be looking at around $220M.
AMX Price at posting:
52.0¢ Sentiment: Buy Disclosure: Held
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