A curious days ASX trading on Friday in AQZ. Volume at 110k shares wasn’t that high however the trading range between $2.10 and $2.31 was wide. The closing price of $2.18 was below the VWAP for the day of $2.2063. So my read is that the price rise was driven by retail investors on a day when there was a shortage of sellers.
Apart from andros62’s comment on the improved trade surplus, anyone like to share what is driving demand for AQZ shares. I’m not sure the current Virgin uncertainty justifies a share price of $2.18. Sure there may also be opportunities but there are significant risks and possibly the need for a capital raise that come with them. I am doubtful that AQZ will return to its pre- Covid 19 profitability levels anytime soon.
AQZ Price at posting:
$2.18 Sentiment: Hold Disclosure: Held
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