Significant sell orders are being absorbed, indicating that there are buyers. We've seen multiple transactions between 20 - 60k being purchased, a trend that has persisted since last Friday when that 160k buy order went through.
We know its not shorters, as the amount is incredible low. Though I have also seen these "Large buy orders" suddenly disappear. So something is def going on.
It's also worth noting though that what we are currently seeing is sellers selling into buyers, rather than buyers buying into sellers. Which is not the best trend.
The key question remains: how low can the stock go before a rebound occurs? Several challenges currently impact its performance in the short term:
- Declining Retail Sentiment: Investor enthusiasm appears to be waning
- Lack of Communication from Management: The absence of updates is contributing to uncertainty
Both of these are a recipe for disaster, as we've seen in the 50% drop over the last 3 trading days.
The EGM is scheduled for tomorrow, though it’s unclear whether any significant announcements will be made. However, questions regarding BNPL expansion, funding, might be raised by investors, especially those who got in on the CR.
Does anyone know if Keast will be attending the EGM tomorrow? Or is it just the BOD?
(20min delay)