Once again the SP doesn't respond to good news. Sure, there is one more hurdle to overcome but one would guess it's a lay down misere that the batteries will pass all 7 levels of cerfication to be fully certified, probably within a week. Further, share prices usually move in anticipation of good news and then dip shortly after the announcment of the news. Even our harshest critic, TopSahara, stated that they would anticipate the SP to settle at about 22 cents following certification (I hope I'm quoting you right - couldn't find the actual post). So, with good news, share prices usually spike as the optomistic bulls buy in, then dip as some take profits and equilibrium is established at a somewhat lower price than the peak. Generally this is due to rumours about news aleady being factored into the price before the actual release of news.
So, with MNS, the SP has been drifting southward in recent times when everyone has been feverishly anticipating a media release about the battery certifications. SInce there had been no release of bad news (which the company would have been obliged to communicate) it was realistic to believe that the certifications were proceeding without any problems. So, on the release of the news today, our SP spiked at 19 cents and then dipped to close on 17.5 cents - hardly anything to get excited about, and much less than the 22 cents TopSahara suggested.
It would seem to me that shareholders simply do not trust the MNS share price to react positively any more. The SP has disappointed greatly for many many years and there are countless present and past shareholders who have lost a lot of money (actual and on paper). There is very little faith in any strong upward movement of the share price. To reverse a famous quote, todays news was 'one giant leap for the company but one small step to regain faith in the company'! There are many among us, myself included, who have absolute faith in the direction the company is moving, but the rewards for holding that faith will not manifest themselves financially in the short or even medium term. It will take more than certification of the batteries to restore that faith for "the market". The company will need to further prove that they are capable of leading, managing and delivering on many of the other aspects of their operation. In the short term they have that very tight timeline contract with Tesla to deliver on. If they can deliver on that project then that would restore a lot of faith and confidence in the market to move the share price upward.
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