There’s so many more opportunities out there in ASX land. The small daily volume of SPL shares traded these days is also problematic.
To be honest, I would much prefer to buy SPL at 30 cents rather than at 13 cents. Why? Because if I’m buying at 30 cents, it is on the back of an extraordinarily positive development and announcement. The share price could and should continue to rise significantly (and safely) thereafter. That is what everyone is hoping for.
But buying at 13 cents and hoping for the festering company performance to turn around is literally a gamble. The trend is still down. The sentiment is still down. Plenty of potential land mines still to come.
The biggest risk/reward development IMO is with the AstraZeneca partnership which is apparently still in place. If a new AZ partnered drug is announced to go into the clinic (after the 3 previously terminated trials) , or even enter into pre-clinical trials, then the SPL share price will likely surge. On the flip side, if AZ terminate the partnership, I expect the SPL share price to crater. Even from these toxic low teen levels.
I think I’ve said before that whilst fortune favours the brave, curiosity also killed the cat. I’m still waiting on the sidelines with patience.
