As much as I would like to agree with you, I don't think so.
Stocks will only move up when more and more of the shares are in fewer people's hands. Other words, the float has to tighten up. Right now, the register has grown by the placement of 50m shares. Among the lot are hedge funds, traders and fair dinkum sophisticated investors. The market needs time for the latter group has to dominate the float. Once the float is in tight hands, it will be much easier to move the shares up.
Very much like the wholesaler and retailer analogy. Wholesaler is the price giver. Retailers are the price takers.
Patience is required.
As much as I would like to agree with you, I don't think so....
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Last
11.0¢ |
Change
0.013(13.4%) |
Mkt cap ! $118.9M | |||
| Open | High | Low | Value | Volume |
| 9.7¢ | 11.0¢ | 9.7¢ | $55.20K | 527.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 23559 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 241691 | 5 |
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| Last trade - 11.08am 22/08/2024 (20 minute delay) ? |
| FLC (ASX) Chart |