It's not a bunch of daytraders that drove this down, they don't have the volume. Some on here want to blame the 'evil shorters', but they can't face the reality that perhaps the MC got ahead of where the company is in it's stage of development.
The company should be successful in time, but even at the current valuation, there is a lot of blue sky priced in. I spent 10 years in Industrial minerals, and most of our businesses ran at 10 -15% EBIT margin(including kaolin), to say its a given these guys will run at 50% margin is highly optimistic, they might achieve it in some applications if things go well, but it will be very tough to achieve that over all their volumes, some will likely have to be sold into lower margin markets.
Good luck to all and always book profits.
Disc: Not Nick Fabrio but do live my life in boardies...
It's not a bunch of daytraders that drove this down, they don't...
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Last
1.9¢ |
Change
0.001(5.56%) |
Mkt cap ! $59.09M | |||
| Open | High | Low | Value | Volume |
| 1.7¢ | 1.9¢ | 1.7¢ | $25.83K | 1.431M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 4347850 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.9¢ | 3045798 | 16 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
1.8¢ |
Change
0.001 ( 2.86 %) |
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| Open | High | Low | Volume | ||
| 1.8¢ | 1.8¢ | 1.8¢ | 263596 | ||
| Last updated 15.56pm 03/05/2024 ? | |||||
| ADN (ASX) Chart |