I agree with you @jcurve. I had a family member asking about getting in since I had recommended ECS, but I advised them to hold off as there will likely be better entry points after the consolidation.
This is part of the issue now with the upcoming consolidation—there’s a lot of uncertainty around it. There’s uncertainty about the rationale behind it, how it will trade with reduced liquidity, the tendency of share prices to drop after consolidations, and the fear of a potential capital raise.
Unfortunately, many market participants who were buying and driving the price up in recent weeks probably share these concerns now so it being on the cards has probably stifled the upmove we were seeing as well.
ECS Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
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