I'd be surprised if the share price doesn't trend upwards now.
Price discovery never happens overnight and even if the fair value now is 50c or more, no-one who wants in will pay more than they have to. So it might appear over the next few days that nothing much has happened, with the price jumping around a bit as relieved traders exit with their hides more or less intact.
However, there should be a medium term upwards re-rating as the price tries to find a fair level. A few broker 'Spec Buy' recommendations might appear in coming weeks and that would be helpful.
I bought in initially at 52c and then a lot more at 16c to bring my average down to 24c. Given the unpleasant ride I've had to endure I won't be exiting anywhere around breakeven. You don't buy into highly risky stocks like this without the promise of big rewards. Without hundreds of percent potential upside I wouldn't want to be in it.
PXS Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
