Agreed. I topped up again this morning based on the...

Agreed. I topped up again this morning based on the fundamentals. If you remove the emotion caused by seeing the SP dip to all time lows and concentrate on the facts, it's a no brainer.

I'd love to know the who and why around the selling. My assumption is that once the SI's that bought at 2.2c were notified of another 40m opportunity at 1.5c some of them start selling and then scoop a bunch more at 1.5c and either hold or sell some more. You cant assume that it is only large holders selling though. With the number of shares we have on issue, there are many many holders who could be holding up to 7million or so shares and not be shown on the top 20 holder list (60% of SOI if my Friday 530pm maths is right). The initial sell down would have scared the shit out of many holders and also may have triggered stop losses. So it could be a mixture of those 2 things.

Additionally the report for the Legalising Cannabis Bill 2023 was released May 31st. With committee recommendations for the senate not to pass the bill. If holders were in it for a punt that the bill was passed, they could now also be selling.

Regardless of the above, I doubt that BP will leave the SP below 3.3c and you can bet ya balls they have the buying power to push it up to that point (which would also generate more profit for them along the way) at any given point in time. So if you you're happy to hang your hat on that, you can enjoy a 100% profit on any amount invested at 1.6c while its available.