I just sold for a nice profit as I wasn't keen to hold into the CE mark announcement. In terms of price it's anyone's guess. I think there are three outcomes in my opinion:
- CE is approved and the price jumps significantly. I'm guessing, but given the SRX hype etc, I wouldn't be surprised to see 50c
- CE is knocked back pending receipt of some additional information/clarification that the company can provide reasonably quickly. In this case I think the stock would get hammered a little at first but would obviously take off if approval then was imminent.
- CE is knocked back due to insufficient data. If this occurs and the company has to do say another trial, I think the stock will get really smashed. Wouldn't be surprised to see it down 2-4c.
I got out because I simply don't have the understanding of the approval process. On on hand I rationalise surely the company knows what they are doing and why would they submit the application of the didn't think they had it in the bag. But then the sceptical side of me looks at all the major share registry which is weak, and I question why previous major shareholders have sold down their positions in this so call SRX to be.
Good luck.
OSL Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
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