I suspect the imminent attack from Iran and Hezbollah will also drive an uptick, as it appears they plan to use a large number of drones in their assault.
Retail investors will buy into this, but it’s the substantial contracts that will attract the big money to support a sustained forward momentum.Keep in mind, the last time DRO reached $1, it surged to $2.70 largely due to high expectations of sales (which never eventuated).
That now is ancient history. The stock rose, it fell, and now we are back to $1. The silver lining is that H2 is their strongest season for sales.
A similar scenario could happen again, but this time, I believe mere hype could push it to $1.30 -$1.40. Anything beyond that will require significant material announcements or macroeconomic factors that benefit the drone sector.
In short, small buy orders of 5-10k shares won’t be enough, which means DRO needs orders of 50k+ shares to support and drive the share price higher. Similar to how these large buy orders over the last 2 days have stopped it from dropping below 95c.
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Last
$1.02 |
Change
0.040(4.10%) |
Mkt cap ! $885.1M |
Open | High | Low | Value | Volume |
97.0¢ | $1.02 | 96.5¢ | $14.56M | 14.59M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1086 | $1.01 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.02 | 311426 | 15 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1086 | 1.010 |
2 | 28595 | 1.005 |
10 | 51394 | 1.000 |
4 | 38632 | 0.995 |
13 | 467142 | 0.990 |
Price($) | Vol. | No. |
---|---|---|
1.020 | 311426 | 15 |
1.025 | 11895 | 2 |
1.030 | 35377 | 5 |
1.035 | 25000 | 1 |
1.040 | 18403 | 4 |
Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
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DRO (ASX) Chart |