I believe it's a mix of the performance rights & China. Investors probably see it as risky as it's a China based company and then you had the incentive shares granted. The incentive share targets were the same price the stock was at the time, which left a really bad taste in a lot of investors mouths. They are called freebies. But hey a lot of people approved them, so that's why we are here. A lot of investors on here went to town defending them, saying the SP had increased from 6 cents to 40 cents etc etc etc. But it wasn't a good look. And most importantly, it's not how you attract new investors, which is needed for the SP to jump.
As i have said a million times, i still can't understand why those performance rights were attempted. Considering the people who received them, would have lost a lot of money in the value of the overall stock they hold, after. So everyone lost. Absolutely everyone.
A few might say 69 cents is an amazing result, which is the performance rights. It really isn't. A few people I know, will be breaking even at that point.
Hopefully we get a new board member soon and maybe a takeover, so the company can reach it's potential.
VMT Price at posting:
33.0¢ Sentiment: Buy Disclosure: Held
(20min delay)