I agree. I also think that the sell volume will dry up quite a bit once the closing date draws near. Right now, I am thinking that most people that were in this stock early are either in it for the long haul OR have already taken profits (Im talking about people who were in when it was 0.001 - 0.005) and who might have sold around 0.017 - 0.02. So I feel like people selling at market rate are doing so to take the spread (between market SP and CR offer) and push the extra capital into the CR offer, which makes sense, but is potentially risky if the CR is heavily oversubscribed. If it is oversubscribed, this news alone can be positive for the SP post-CR.
So what I see is that as the CR ends, the main motivation for selling diminishes, and the motivation to buy will win out, especially if the price is still at these rates. If the SP does increase steadily throughout the rest of the CR then there will be some selling here and there but I would imagine people would be holding until at least the PFS announcement and waiting to see reaction from the market. I believe, as I think most people here do, that the PFS results will be positive, and that the increase in SP following this could be substantial, so I tentatively feel that most people will be holding stock.
Logically, it seems reasonable that if we believe in MGT before PFS, once PFS results come out, that belief becomes justified optimism, so why not hold further. That optimism becomes near certainty as we approach a DFS & BFS. This is a very exciting time and there are so many good reasons to take a long position here. IMO, DYOR.
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Last
18.5¢ |
Change
-0.005(2.63%) |
Mkt cap ! $19.44M |
Open | High | Low | Value | Volume |
19.0¢ | 19.0¢ | 18.5¢ | $2.841K | 15.03K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 10062 | 18.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
19.0¢ | 26109 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 11943 | 0.185 |
3 | 42080 | 0.180 |
1 | 3500 | 0.175 |
4 | 66500 | 0.170 |
1 | 40000 | 0.160 |
Price($) | Vol. | No. |
---|---|---|
0.190 | 26109 | 2 |
0.200 | 75038 | 3 |
0.220 | 3773 | 1 |
0.235 | 55000 | 1 |
0.300 | 350 | 1 |
Last trade - 12.13pm 06/09/2024 (20 minute delay) ? |
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MGT (ASX) Chart |