I think we are seeing what is not there, and what’s actually there we are not seeing. No apparent reason for a drop from $1.20 to 73c, if Q1 was not good, why it appreciated 25% in a day. Furthermore a guidance was reconfirmed and contracts were won after guidance confirmation. I sense no bad news, it is just a tactic to buy your shares cheap, look for a quick reversal before the Q2 report or even a TO or merger.
Apparently looking at a order book, buying $100k worth of shares can quickly bounce a price to 90c plus. So, $100k can change a mar cap in multi millions. I will be worried if there is a large volume sell with a negative news, not a case here.
Comparison with the competition, page-33
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Last
$2.25 |
Change
-0.020(0.88%) |
Mkt cap ! $588.5M | |||
| Open | High | Low | Value | Volume |
| $2.27 | $2.29 | $2.19 | $1.455M | 654.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7302 | $2.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.26 | 4802 | 1 |
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| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| CAT (ASX) Chart |