Hey @mikeyboy62, my 2c worth on the current share price.
I originally expected weakness/ drift lower in Jan 22 as the options got exercised and some people sold out or a portion to pay the required 45c.
However, with the unexpected CR to 4 Israeli pension funds and an EO that required an early exercise of the options, this was brought forward to Nov/Dec. On the back of the CR, the shorter has returned ( much less than previously ). Throw in a general weakness in the ASX small/mid cap market on US inflation fears, Skywater SP hammered on earnings miss - to $15 from $35- and solid dose of risk of in the crypto space. Lastly, the news flow has been relatively slow, since the skywater announcement in Sept.
Given all of the above, IMHO, the share price has performed admirably. Yesterday we get a 12% rally on 500k shares on the back of an email from the company. ( fwiw, I also think the ASX are mistaken to not publish this news as an ASX price sensitive announcement ). We are now back above the EO price and the charts looked to have turned upwards. I am of the belief that the pension funds and other OZZIE and US funds will be buyers on confirmation news. What I mean by that is : every ASX price sensitive positive news will be meet with solid buying. What will be interesting to watch is the degree of selling/profit taking. With management buying into the EO at $2.84 they are obviously not taking any profits at these levels. They will probably have tax liabilities, but are using other funds to meet those obligations.
Jan 2021 had a $2.24 low and $4.27 high. The volume was approx 50m shares. This time, the trip to $4.50 wont have as many profit takers. I am expecting a continual flow of news from the company in the next 3 - 6 months and I do not plan to sell any until unicorn status is achieved.
Happy holidays.
WBT Price at posting:
$2.89 Sentiment: Buy Disclosure: Held
(20min delay)