MEI has been a traders stock for years. This is no different until this new project is completely proven. Majority of volume coming from traders, not long term holders, and there's a reason for that. Still think it will reach 8-10c this year, following the last 3 trajectories on an acquisition being a catalyst. Traders are just taking their huge profits, but I believe they will load up again to dump it at another 100% from here. Only way share price will go above and stay above the highs is if they finally deliver on a project they've purchased, otherwise long term investors will be left holding the bag for a fourth time. Also director remuneration needs to be massively cut down - it's not a good look for a company with nothing to show to date. But I don't see that happening. GLTA!
IMO, DYOR.
General discussion (MEI), page-119
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Last
10.3¢ |
Change
0.003(2.50%) |
Mkt cap ! $203.9M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.3¢ | $154.3K | 1.470M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 90 | 4451985 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 824276 | 11 |
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| Last trade - 10.50am 30/07/2024 (20 minute delay) ? |
| MEI (ASX) Chart |