Most importantly one has to look what the mgmt promised and what...

Most importantly one has to look what the mgmt promised and what they delivered. Talking about SP movements in isolation is of little use. On top of that the company is actively talking up M&A in the sector which we all think is near term. (FYI, I have been loosely following the WBT story for about 2 years now)

Is there hope built into the price- I would think so.
Is the SP flying on hope alone- I would think not. There are trial results recently released and more to come. So there will always be extrapolation. I for one wanted to be locked and loaded before the 12GBq expansion phase results came thru in addition to the risk that we may not have time for a 12-month CGT discount if bought later (not that I am convinced we have it now).

So buying into the opportunity earlier could be a reason for someone like me but also like Alan mentioned on the recent Science hat podcast, there may be instos trying to still keep building their positions irrespective of their time horizons.

AIMO. DYOR.