Personally, I have no problem at all with BMN's share price at the moment....then again I am not a full time day trader (which helps..lol!) and I view BMN as an investment which requires a degree of patience during the obligatory bouts of consolidation in between regular bursts of handsome share price growth.
Having said that, I get slightly nervous when I see determined selling in a stock in case it is insider driven (by bad news). I am pretty confident that this is not the case. More likely, we are closer the end of the corrective phase which will restore a 'buy' recommendation for the stock (eg witness recent comments by long time BMN believers Fat Prophets who have waited for the stock to pull back further before upgrAding it to a buy).
Finally, a point re the share placement. It is not uncommon for a stock to 'go soft' for a few weeks after a placement as demand is temporarily satisfied. As an example, ERN followers would no doubt remember how it dropped about 10% post the Feb'07 placement (done at 60c) ...and look at it now! It was an excellent buying opportunity and I expressed this on the ERN thread at the time. The odds are, we now have a very similar situation unfolding with BMN right now.
no support for the issue at all, page-9
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Last
$2.85 |
Change
-0.120(4.04%) |
Mkt cap ! $509.0M | |||
| Open | High | Low | Value | Volume |
| $2.82 | $2.92 | $2.79 | $1.519M | 532.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 499 | $2.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.87 | 1000 | 1 |
View Market Depth
| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| BMN (ASX) Chart |