I'm not convinced PEN can survive long enough for the uranium 'recovery' to unfold. In my mind, there is a very real possibility that they'll fold or be taken over for cents in the dollar - RCF perhaps? They have money problems and a lot of technical baggage. Throw poor U sentiment into the mix, and it's an awful investment proposition that PEN is offering.
I don't see any silver lining for PEN in the medium term and therefore I reckon the SP will drift toward the sub-10c range. In this range, PEN is a true penny stock, subject to the whims of day traders. There may be opportunity to make a few bucks on the pump and dump events - you know, 'working your trading parcel'. I'm no day trader but I may be tempted to gamble a few dollars in that range. Cue phish - "Ah ha, so you are a trader". Whatever.
Another comment - PEN's continued SP decline has nothing to do with Coronavirus - that's just another excuse fabricated by the bulls. The decline is real - no one out there believes the PEN narrative. Plus the financial evidence (half yearly report) is downright horrible.
All the above is obviously my opinion and I could be totally wrong.
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Last
10.0¢ |
Change
-0.005(4.76%) |
Mkt cap ! $211.7M |
Open | High | Low | Value | Volume |
10.0¢ | 10.8¢ | 10.0¢ | $447.3K | 4.305M |
Buyers (Bids)
No. | Vol. | Price($) |
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76 | 5234444 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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10.5¢ | 1094942 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
74 | 5204445 | 0.100 |
3 | 120101 | 0.099 |
6 | 555353 | 0.098 |
5 | 383999 | 0.097 |
10 | 1079086 | 0.096 |
Price($) | Vol. | No. |
---|---|---|
0.105 | 1094942 | 12 |
0.110 | 3883499 | 32 |
0.115 | 2412952 | 22 |
0.120 | 4912900 | 30 |
0.125 | 3836755 | 20 |
Last trade - 16.10pm 23/04/2024 (20 minute delay) ? |
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Last
10.3¢ |
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Change
-0.005 ( 0.00 %) |
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Open | High | Low | Volume | ||
10.5¢ | 10.8¢ | 10.3¢ | 2366294 | ||
Last updated 15.59pm 23/04/2024 ? |
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