The company raised initially at $2 per share so there is no way Samsung could just buy the company. Traders took over the register for a week, and this always ends in tears for stocks with such low levels of free float. This company has about 10-15m share free float as the board owns 76% of the stock
The stock went silly to $3.70 , but got hit hard when the convertible note was exercised adding 20-30% sell side pressure on top of the normal stock free float.
No board sales so 76% of the stock did not trade.
I think this will stay week for a few more days as the burnt traders ease out and give up, but longer term think the stock will retest the $2.00 price it initially floated at.
If the next announcement is Telstra, Apple, AT&T or Nokia it wont matter as long as revenue increases from the Samsung deal and whoever the next one is the stock will be rated on revenue growth and profit just like APT has been.
The emergency workers in Australia suggested this product was a life saver in the fires where there was no reception
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Price($) | Vol. | No. |
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