"I'm also annoyed when all of a sudden the Company is a sell because the share price more than halved from 3.2 cents, there must be something wrong with the stock, why is it dropping"I don't believe there's been masses of negativity shown regarding the dropping SP, but for the sake of opposing thoughts and to play a bit of a devils advocate, I'll ask the following:
Shouldn't it be concerning when a company's SP drops 30-40% in under 2 weeks,
especially for those that bought in near the high?
How should we expect this fluctuation to influence an investors short/medium term confidence in the SP and company?
As some within these forums clearly bought into the company averaging under a 1c SP, they're still comfortably ahead, but is that reason to blindly accept the wild fluctuations and not question why?
One may ask from observing the SP recently - Has there been any institutional share price manipulation?
Does it appear that the SP is being driven down so they can accumulate on the low then sell on the high, as per the previous rinse and repeat events that occured twice in the past 6 weeks?
Regarding the below table, does there appear to be a pattern?
Does the week following the drops look similar (1-5 Feb & 1-5 Mar)?
| Date | Close | Change | %Chg | Open | High | Low | Volume | Turnover | VWAP |
|---|
| 1 | 5-Mar-21 | $0.015 | -$0.001 | -6.25% | $0.016 | $0.016 | $0.014 | 44,291,710 | $666,346 | $0.0150 |
|---|
| 2 | 4-Mar-21 | $0.016 | $0.000 | 0.00% | $0.016 | $0.017 | $0.015 | 29,172,620 | $467,947 | $0.0160 |
|---|
| 3 | 3-Mar-21 | $0.016 | $0.000 | 0.00% | $0.016 | $0.018 | $0.015 | 22,814,525 | $374,854 | $0.0164 |
|---|
| 4 | 2-Mar-21 | $0.016 | -$0.001 | -5.88% | $0.017 | $0.017 | $0.016 | 43,671,611 | $717,808 | $0.0164 |
|---|
| 5 | 1-Mar-21 | $0.017 | -$0.002 | -10.53% | $0.019 | $0.019 | $0.017 | 42,001,044 | $767,210 | $0.0183 |
|---|
| 6 | | | | | | | | | | |
|---|
| 7 | 26-Feb-21 | $0.019 | $0.000 | 0.00% | $0.018 | $0.019 | $0.017 | 35,259,013 | $642,318 | $0.0182 |
|---|
| 8 | 25-Feb-21 | $0.019 | $0.000 | 0.00% | $0.019 | $0.020 | $0.018 | 44,545,945 | $864,504 | $0.0194 |
|---|
| 9 | 24-Feb-21 | $0.019 | -$0.001 | -5.00% | $0.021 | $0.021 | $0.018 | 67,462,563 | $1,307,981 | $0.0194 |
|---|
| 10 | 23-Feb-21 | $0.020 | -$0.006 | -23.08% | $0.025 | $0.029 | $0.019 | 230,700,000 | $5,280,000 | $0.0229 |
|---|
| 11 | 22-Feb-21 | $0.026 | $0.005 | 23.81% | $0.021 | $0.027 | $0.019 | 323,999,646 | $7,672,028 | $0.0237 |
|---|
| 12 | 19-Feb-21 | $0.021 | $0.005 | 31.25% | $0.016 | $0.022 | $0.015 | 229,812,925 | $4,534,440 | $0.0197 |
|---|
| 13 | 18-Feb-21 | $0.016 | $0.002 | 14.29% | $0.014 | $0.016 | $0.014 | 29,759,465 | $464,438 | $0.0156 |
|---|
| 14 | 17-Feb-21 | $0.014 | -$0.002 | -12.50% | $0.016 | $0.016 | $0.014 | 18,113,999 | $275,225 | $0.0152 |
|---|
| 15 | 16-Feb-21 | $0.016 | $0.000 | 0.00% | $0.016 | $0.016 | $0.015 | 5,685,472 | $90,318 | $0.0159 |
|---|
| 16 | 15-Feb-21 | $0.016 | $0.001 | 6.67% | $0.016 | $0.017 | $0.016 | 11,070,000 | $177,696 | $0.0161 |
|---|
| 17 | 12-Feb-21 | $0.015 | -$0.001 | -6.25% | $0.016 | $0.017 | $0.015 | 16,644,610 | $264,105 | $0.0159 |
|---|
| 18 | 11-Feb-21 | $0.016 | $0.000 | 0.00% | $0.016 | $0.016 | $0.015 | 13,897,843 | $221,547 | $0.0159 |
|---|
| 19 | 10-Feb-21 | $0.016 | $0.002 | 14.29% | $0.015 | $0.016 | $0.015 | 14,677,423 | $229,632 | $0.0156 |
|---|
| 20 | 9-Feb-21 | $0.014 | $0.000 | 0.00% | $0.014 | $0.015 | $0.012 | 67,895,428 | $963,980 | $0.0142 |
|---|
| 21 | 8-Feb-21 | $0.014 | -$0.001 | -6.67% | $0.016 | $0.016 | $0.014 | 29,700,000 | $451,454 | $0.0152 |
|---|
| 22 | 5-Feb-21 | $0.015 | -$0.001 | -6.25% | $0.016 | $0.017 | $0.015 | 16,272,547 | $259,427 | $0.0159 |
|---|
| 23 | 4-Feb-21 | $0.016 | -$0.001 | -5.88% | $0.017 | $0.017 | $0.016 | 28,416,933 | $465,841 | $0.0164 |
|---|
| 24 | 3-Feb-21 | $0.017 | $0.001 | 6.25% | $0.016 | $0.018 | $0.016 | 28,145,290 | $484,524 | $0.0172 |
|---|
| 25 | 2-Feb-21 | $0.016 | -$0.001 | -5.88% | $0.018 | $0.019 | $0.016 | 20,662,931 | $358,345 | $0.0173 |
|---|
| 26 | 1-Feb-21 | $0.017 | -$0.003 | -15.00% | $0.018 | $0.018 | $0.016 | 35,351,224 | $624,255 | $0.0177 |
|---|
| 27 | | | | | | | | | | |
|---|
| 28 | 29-Jan-21 | $0.020 | -$0.002 | -9.09% | $0.022 | $0.023 | $0.020 | 32,167,675 | $688,266 | $0.0214 |
|---|
| 29 | 28-Jan-21 | $0.022 | -$0.001 | -4.35% | $0.021 | $0.022 | $0.020 | 31,036,350 | $650,025 | $0.0209 |
|---|
| 30 | 27-Jan-21 | $0.023 | -$0.001 | -4.17% | $0.023 | $0.026 | $0.021 | 94,991,356 | $2,201,441 | $0.0232 |
|---|
| 31 | 25-Jan-21 | $0.024 | $0.003 | 14.29% | $0.021 | $0.032 | $0.021 | 176,871,276 | $4,531,485 | $0.0256 |
|---|
| 32 | 22-Jan-21 | $0.021 | $0.006 | 40.00% | $0.016 | $0.021 | $0.016 | 75,249,412 | $1,428,044 | $0.0190 |
|---|
| 33 | 21-Jan-21 | $0.015 | -$0.002 | -11.76% | $0.018 | $0.018 | $0.014 | 30,374,907 | $492,118 | $0.0162 |
|---|
| 34 | 20-Jan-21 | $0.017 | $0.004 | 30.77% | $0.014 | $0.019 | $0.013 | 102,031,788 | $1,636,595 | $0.0160 |
|---|
| 35 | 19-Jan-21 | $0.013 | $0.002 | 18.18% | $0.011 | $0.013 | $0.011 | 20,063,971 | $232,229 | $0.0116 |
|---|
| 36 | 18-Jan-21 | $0.011 | $0.002 | 22.22% | $0.010 | $0.011 | $0.010 | 16,241,150 | $170,182 | $0.0105 |
|---|
| 37 | 15-Jan-21 | $0.009 | -$0.001 | -10.00% | $0.010 | $0.010 | $0.009 | 146,866 | $1,388 | $0.0095 |
|---|
After the previous drop in January, who bought out all of .017 & .018 on the 19th Feb (in a matter of seconds) to get the SP hype going again?
What really concerns me though is still the lack of transparency from Parkway, dispite comments they were going to provide more details to shareholders. Also the hint's of what's to come without disclosing specifics.
An example is the signed MOU from 6 months ago they have still not divulged, though they again mentioned an established water industry company in the Feb update, also yet to be finalised.
Reading back through the Corporate update thread from 25th August ANN, Post
47582095 provides an update from another discussion with Bahay. There still appears to be items pending from this feedback.
As an example and extracted from afore mentioned post:
6 months later and we're still to hear any substancial progression/developments on the last 2 items.
Extracted from the recent Feb update:
1. "
The Company has recently completed a preliminary technoeconomic evaluation for a major global energy company"- another company that will remain undisclosed unless a signed contract is announced.2. "The Company is in discussions with an established water industry player about the prospect of launching a collaborative partnership to assist in the realisation of certain priority BPaaS™ projects" - Is this the same company as the signed MOU announced 6 months ago? Has there been no further development on this and still no names?3. "The Company is also in negotiations to acquire certain rights to an additional wastewater treatment technology that has synergies with the existing technology portfolio"- But can't divulge details as it's still pending, as it was from their Dec1 ANN (3 months ago).
4. "Whilst the discussions outlined above continue to progress positively and in good faith, there can be no certainty such discussions will necessarily be concluded successfully" - Basically, these discussions could come to nought.5. "In addition to a number of key hires, the Company has established commercial relationships with several strategic industry players, including several leading OEM’s and related service providers" - The OEM service providers have been mentioned a number of times in other ANN's but still no disclosure who.From the
May 2020 non deal roadshow Presentation:
6. "Parkway Process Solutions has agreed to acquire a small but profitable water treatment business based in Western Australia"- Has been disclosed as being Multi-WetThe above observations are not a down ramping of PWN, but as a shareholder, a right to question some areas of concern, so one can remain a confident shareholder based off solid information.
Some may agree that the recent direction of the company has shifted from it's original path.
Perception suggests this transpired out of necessity, in order to reach their goal of a signed contract.
Do I believe Bahay is working hard to commercialise the BPaaS platform through a signed contract and would I agree the company has huge potential,
Absolutely!Am I as confident as I was late last year,
unfortunately no!I am though, looking forward to some ANN's with concrete information/substance in the near-term to change this.
Cheers!
(20min delay)