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.
MEI has been a traders stock for years. This is no different...
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Last
16.0¢ |
Change
-0.010(5.88%) |
Mkt cap ! $318.4M | |||
| Open | High | Low | Value | Volume |
| 17.0¢ | 17.0¢ | 16.0¢ | $639.2K | 3.939M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 880649 | 16.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.5¢ | 150459 | 2 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MEI (ASX) Chart |