Several Brokers yesterday had sells on 29M, and the market expects the company will need to do a capital raising, so the shorters
are having a party.
Production numbers looked ordinary so unfortunately the market is crushing the share price.
I don't know where the floor is on this stock, and when a stock is on freefall its best to stay out and on the sidelines.
There will definately be a bounce, but caution on catching falling knives, its a destructive way of losing capital quickly.
I think 29M will be a buy at some stage, but until they raise money, and quickly, the shorters at this low sentiment will drive the price lower.
Caution is the best policy, I lost thousands years ago on a stock called Atlas Iron - AGO was a darling at $4 and crashed to 4 cents.....Unfortunately
the market is too bearish at moment on 29M
Good luck to all, Brokers are seeking a capital raising so I will wait until that occurs before dipping into 29M, just my opinion.
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Last
46.5¢ |
Change
-0.005(1.06%) |
Mkt cap ! $326.3M |
Open | High | Low | Value | Volume |
47.5¢ | 47.5¢ | 46.5¢ | $850.5K | 1.813M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 74444 | 46.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
47.0¢ | 3977 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 49995 | 0.465 |
11 | 174160 | 0.460 |
4 | 164297 | 0.455 |
11 | 101533 | 0.450 |
6 | 87650 | 0.445 |
Price($) | Vol. | No. |
---|---|---|
0.470 | 3977 | 1 |
0.475 | 30908 | 2 |
0.480 | 71000 | 3 |
0.485 | 187083 | 2 |
0.490 | 71762 | 2 |
Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
47.0¢ |
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Change
-0.005 ( 0.25 %) |
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Open | High | Low | Volume | ||
47.5¢ | 47.5¢ | 46.5¢ | 368913 | ||
Last updated 15.59pm 14/06/2024 ? |
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29M (ASX) Chart |