So are we getting ready for next move?A great move by WC8 to do...

So are we getting ready for next move?

A great move by WC8 to do a raising at this stage. I have seen many companies wait for sometime, price sometimes goes lower due to macro conditions and they raise at lower price. But WC8 has raised close towards the higher level of sp, and I felt a raise at 76 was fair - not too high to deter buyers, not too low to upset current holders. Also a raise of 100m literally sets them up for several months, which means the CR pressure will not be till at least WC8 has moved to another stage. Also removed any overhang of CR not letting price move.

So what is that next stage? Lot of theories going around, so most have been covered already. Most feel a takeover offer, or another big player to get into as happened at AZS (both GH, CW) - and a number of scenario of others joining in. When will that happen? Not sure. Our market cap after raise and say a price around $1 would be closer towards 1.5b. So will those interested wait for further confirmation of resource before taking a move or take a stand/risk that it is going to be much bigger, so get in before it reaches there and save on that?. Also, lot of egos/personalities may be in play as well. AZS still buys happening it seems.

So what may happen in short term? CR 131m to be issued on 17th Nov, Friday. There is a chance price may float in this range where its trading - mainly around 80 base - with jumps and downs as well. A big buyer could change that. Any news/event/announcement could change that. Last Friday volume was not very high, the average 25m we were doing was not there, rather the 10/15m which was happening before CR. So looks like big buyers currently not there.

Personally, as I wrote last week, I had written I felt the price action was weakening and I could sense not only with drop of price but volume as well. I exited most of my stocks last week, at average around 90 - didn't pick the high, but I feel its very difficult to pick top and bottom - anything around 10% I feel is still ok. Now we know why price was weakening, volume decreasing - CR - and we know that there are always some in the know. So that explains that pattern. At this stage I have not yet bought back. I feel this level is indecision state, so want movement out from here. Will wait for a catalyst now - may miss if a offer comes which usually is 50% up the price. All this my personal opinion, could be wrong, so please dyor.

For those interested how WC8 is tracking against other Lithium stocks or who hold multiple Lithium stocks, I do a Weekly Report across 96 ASX Li stocks. It has got Weekly/Yearly data how stocks are tracking. I also have commentary across general markets and sector. Those just holding specific stocks, it may not be relevant, so please ignore.

Here is the report for this week.

https://hotcopper.com.au/threads/sya-weekly-report.6951924/page-2#post-70846850