I see three possibilities here with this price action:
1. Weak hands are getting very nervous with limited 'Management' announcements and looking to exit. If you entered anywhere above $2 looking for a momentum-shift trade you have been disappointed;
2. Seems like some controlled offloading here. This share price hit over $7 earlier this year so understandable that it is convenient for someone to take a loss on this one - depending on how their portfolio played out. Quite understandable. Situations like this just turn into another investors gain once Q1 22 rolls along. I am very tempted at these prices but if he/she really has to sell we may be in for an even bigger bargains ahead.
3 Then there is always the possibility of someone with insider information seeking a controlled exit to maximise their exit point. Are the Q4 results worse than Q3, or on par? Will the market savage this stock again in late June/July? This is a possibility, but unlikely in my view.
With these potential three scenarios playing out I am leaning towards Point 2 as the most likely, although am not discounting 1 and 3. At the end of the day this is a fantastic little business with future growth in the trade and medical industries. I am aligned with management on their vaccine speedbump thesis and willing to take the journey for the next two years. This is a 144m business with 42.5m cash, 2.3m debt - with innovative well-regarded products. Also they have a proven management team. That'll do me. These 2021 prices will be the usual 'golden opportunity' hindsight narrative in years to come.
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Last
25.0¢ |
Change
-0.010(3.85%) |
Mkt cap ! $19.33M |
Open | High | Low | Value | Volume |
25.0¢ | 25.0¢ | 25.0¢ | $156 | 622 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 19450 | 25.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.0¢ | 1304 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 19450 | 0.250 |
1 | 1500 | 0.230 |
1 | 8099 | 0.225 |
1 | 13973 | 0.220 |
1 | 4651 | 0.215 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 1304 | 2 |
0.270 | 6900 | 1 |
0.290 | 2000 | 1 |
0.295 | 3500 | 1 |
0.300 | 4670 | 2 |
Last trade - 10.02am 02/07/2024 (20 minute delay) ? |
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CSX (ASX) Chart |