Regarding your notes as to why SP is going down atm, I don't think any of those claims are inaccurate, however, wouldn't they all have been existent when the SP ran up towards 30c though?
The selling has been prompting resistance after resistance. If any or all of those factors you mentioned were to be considered as an explanation for the selling, then wouldn't they have prevented the run the SP recently experienced?
The conclusion I've reached as to why the SP has been suppressed is predominantly due to certain large holders i.e top20, selling out near or all of their positions, fundamentally at around the same time coincidentally, obviously resulting in an influx of supply, which has then continually managed to outweigh the demand. It's just my mere opinion but if there's any validity to it, we should hopefully see, sooner rather than later, a correction of sorts where the balance should start to favour the demand when those that are taking/forming their positions at current prices choose to HODL for at least the next 12 months.
Compared with most other micro caps, they really don't have a large amount of shares on offer, yet, the top 20 barely hold 30% of the registry. It implies larger positions are not being maintained. And until that starts to occur, it's always going to be problematic in hindering supply over demand and achieving a more realistic and fair valued SP.
Hopefully, the next few financials released will strongly help with convincing the majority of large holders to do this & stay staunch in their positions, or better yet, buy up more to increase their holdings...
FEX Price at posting:
23.0¢ Sentiment: None Disclosure: Held
(20min delay)
