In essence, this really means very little. It is the "at the market" transaction volumes that provides the real and actual indicator of a stocks relative strength. Generally, the depth can be full of prompt bids that disppear fairly quickly when the market threatens to attack them. But this mornings announcement was very positive in a very ordinary market atm and we have seen a bit of volume attack the offers so that is pointing the thing in the right direction. Noone is really willing to sell down, why should they unless they need the dosh. And a few of us who got in a bit over our heads may be in that boat but SBN's price contribution at this stage would hardly make a ripple in the debit side of the equity ledgers of some around town atm. I guess the beauty of SBN is that once the capital raising is behind us, the company starts its next corporate chapter (post capital raising)from an extremely low capital base that given its new corporate structure (no debt, !00% IP owned,cash in the bank,growing sales pipeline, corporate intiatives ie China etc.), actually represents SBN as quite good value and definitely primed for a aggressive rerating should the right sounds be made!
Cheers
SBN Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
