I will not t be surprised if DRO market Cap reduces to $55M or even $50M with the share price at $0.22-$0.20 (approx. 254M share in the market). If a company cannot generate sufficient revenue to support its Market Capital, it goes through vortex; there is enough example in ASX to support my viewpoint: Clearview Technology (CPV), Titomic (TTT) Aurelia Metals (AMI); Next Science (NXS) and the most recent one is Tubi (2BE).
Although DRO is a market leader in its field, in the last two years, it is unable to produce more than $2m revenue and more recently unable to secure any large contract(>$10M), however, things can change quite quickly if it succeeds to secure a large contract and the company progresses to a growth phase.
I still hold a small package of DRO with a net loss.
Price Pressure on DRO
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Last
$1.83 |
Change
-0.190(9.41%) |
Mkt cap ! $1.395B | |||
| Open | High | Low | Value | Volume |
| $2.03 | $2.11 | $1.55 | $137.0M | 78.50M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 54220 | $1.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.83 | 56256 | 4 |
View Market Depth
| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| DRO (ASX) Chart |