Year Closing Price (30 June) Last Trade 2020 $0.036 30 June 2019 $0.20 28 June 2018 $0.365 29 June 2017 $0.26 28 June 2016 $0.19 28 June 2015 $0.19 30 June 2014 $0.165 30 June Look at the table above guys. This company got hit hard early 2020.
Prior to that, it has been trading well above what the SP is today.
I really suggest to stop panic selling, because you may regret that very soon.
October 2020 Trading Update shows significant improvement of the business.
October revenue (unaudited) of $12.6m, up 18% year-on-year
• October net profit before tax (unaudited) of $1.05m, up $1.02m year-on-year
• YTD net profit before tax (unaudited) of $1.60m, up 410% on the same period last year
• October revenue surges on the back of a successful Apple iPhone 12 launch
• Continued momentum in gaming anticipated with ‘Next Gen’ consoles launching in November
The next quarterly will be including the sales of Christmas, Boxing day and so on. It will be an even better report than the latter.
Once the company proves itself with ongoing and recurring positive quarterly reports, you can expect the SP to head north of 20c.
The only reason the SP has yet to do that, is that people are still worried it may be a "one off". However, the upcoming quarterly will prove that to be false.
If anything, i would recommend averaging down as much as you can, because the SP will not be at this level for much longer.
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