I believe that there is a fundamental reason for the increase in price as essentially CM8 trades on a Mcap/revenue multiple of less than 3.
This multiple is amongst the lowest that you will find on the ASX for a cashflow positive company and as the market becomes more comfortable with their ability to generate cash, then we should trade at a much higher price.
They now have their costs under control, so every extra dollar they generate goes to the bottom line and of course there will be some in the market who have a longer-term horizon and they will be looking forward to the Fintech and Insuretech initiatives.
CM8 Chart Indicating Breakout to UPSIDE, page-688
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Last
1.5¢ |
Change
-0.001(6.25%) |
Mkt cap ! $18.35M | |||
| Open | High | Low | Value | Volume |
| 1.6¢ | 1.6¢ | 1.5¢ | $15.73K | 985.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 896665 | 1.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.7¢ | 668352 | 8 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| UNT (ASX) Chart |