Lots of posturing going on with AXT this morning between buyers & sellers without any trades actually occurring...........
Bid price is already 2 ticks up on the previous close, yet no-one seems to want to sell at that price!!!!
Close was 6 cents, fully diluted cash NAV is 8.4 cents, personally I'd put fair value for the share price currently in the 7.3-7.5 cent range.
How many effectively cash shells are out there with over A$12M in them? not a lot I think.............
LOTM
Day Trading November 4 - Morning, page-152
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