Hi zoltar, large number of posts does not imply seniority as you put it. There have been quite a few others who have much lower number of posts but have been on HC just as long as I have. Having an opinion does not mean I know anything more than anyone else. But since you asked I will offer my opinion. Firstly the answer is complex. There are so many competing forces in play at the moment. The greatest factor is simply that the stock listed well above the ipo price and as well know traded much higher. The market was full of expectation and greed. And I must admit that I too was caught up in this hype, a valuable lesson. I can not recall who posted this (someone with many more posts than me) but they said they would wait for 2 or 3 weeks to look for an entry in the low 30s, which would place that about now. In other words they had much more experience than me to identify that the initial list was over hyped, by us on hc. We have a bunch of ipo holders sitting a significant profit, then there are the day traders and the volumes going through made this a day traders dream - of course not all day traders necessarily win, which is why we had lots of people lamenting the need for an announcement. Then we have a lot of newbies get caught in all of this. Seeing the large swing not knowing exactly what is going. It is a heady mix. Then we get an announcement that is tantalising but considered by some to be lacking in substance. This announcement generated large volume which a major shareholder took the opportunity to sell their non-escrowed stock. This major shareholder provided a reason for their sale and stated that they remained committed to the company, they did not have to do this and I might add is uncommon. I say good on them and good luck to them. But this caused consternation among many seeing it as a lack of confidence in the company or at least sowing this seed that it was of concern, which I think is bs by the way peeps are allowed to say what they want. Then there were the loss of confidence posters keen on talking the sp down because again it suited there game plan, which apart from one annoyance on my part I have no brook with. However the lack of confidence was really the large number of short term traders all trying to make a buck off each other as the volume declined with the sp. Then we as in now we have those trying to call the bottom, which is really hard with such a newly listed stock, as some have lamented it is hard to read the chart with a newly listed stock. The sp is trying to find support and has failed on at least 2 occasions in the high 30s and around 33c. The drop through 35c was clever trading where a relative small volume took the sp down to the 33c area where there was good volume through the day and it looked like support had been found. Tuesday looked further like support had been found then yesterday after midday there was a large sell of about 3million shares which happened abruptly and then was over, just the same it shocked many of the commentariat here. Clearly someone had to sell, I did not take it as a comment on the capabilities or the capacity of the company. This sent a few into a spin from which the sp went lower where it eventually found support in the high 20s, and recovered slightly to close at 32.5. Was yesterday the exhaustion day? I don't know only time will tell, certainly today ended up being an inside day (a rest day), which may confirm yesterday to be an exhaustion day or may signal a continuance. Typically an inside indicates a continuation of the trend - and given the sp is still above the ipo listing this is quite plausible, the downtrend is unarguably in place. Yet, apart from yesterday (being a potential exhaustion day with the required large volume) the volumes being traded have not been large as in it is lots of traders pushing the sp lower not necessarily large scale distribution. I don't have any evidence of this but this is my feeling, just traders pushing the sp around. Until I saw the iceberg today which gives me confidence that if the bottom hasn't been found it is very close at hand as large accumulators do not like to let their entry price remain above the sp for long. I saw this same pattern when Perennial Value Management Limited (remember them) entered into AEI in the mid to low 60s, that is an iceberg order at the end of the day each day for a few days in a row. Not saying the same thing will happen here for continuance of iceberg orders, but that it happened today strikes me as a positive. So we have so much going on here, so much emotion in play with so many newbies into the stock market having found a stock with charismatic large shareholders, ethical company aspirations in the midst of a pandemic. There are day traders in and out, there are people claiming announcements soon, the sp will go the moon, the sp will go to the ipo price, watch out for the afternoon sell off. The market is not predictable that is the one thing I have learnt, you cannot predict the market, yes some have got it right for 2 weeks now, but one thing is for sure do not bank on the pattern being maintained for the next 2 weeks, it just won't happen. I am in at 44c, not a large holding and I have a much longer view than many of the posters who longer post here, I almost sold at 40c but I decided not to as I might not buy back in once the so called bottom is found, my money might have gone to other opportunities as there are plenty. Two things stopped me from selling, I wanted to fight my fear to see what would happen as in trying to learn about myself as well as market behaviour. I have never bought in after an ipo previously and this is a chance to learn, and yep it has been a real rollercoaster ride, if I get it wrong it is not the end of the world, just the same this company isn't going broke so on that level all good so far. I have never been involved in a stock with so many trades happening daily, again something to learn from, to watch day traders compete with short term traders and those with longer term aspirations, mixed with large ipo profit takers. From a fundamental perspective this company offers great prospects, and its entry into the CV19 market space will be successful in my opinion - John Kelly gives me great confidence, he knows his shit. I am quite bullish about the company in the short to medium term, that is over the next few months, beyond that I remain confident but I want to see more progress before I commit fully to the longer term but I have no qualms in thinking this company to be a multiyear hold. So in an extraordinarly long winded response - I do apologise - the last 3-4 weeks have simply been settling pains, I think things are close to settled if not settled now, the sp will find an uptend of that I have no doubt. There has been some great information posted here that many have glossed over because everyone is so focussed on the short term, everyone trying to be right about their entry and exit points and those wanting to say I called, I got it right. Well great but I bet 9 times out of 10 they got it wrong and won't admit it. Remember that the company will sell everything it can curently make this year, and the first phase of additional capacity coming on soon. The market hasn't factored this into the sp yet, let alone any additional left field announcements. I reckon Atomo is a beauty, ticking all the right boxes so far. glta
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