Tbh I think this is a case of macro pressure. The stock isn't multi bagging like everyone had hoped, there's lots of people in it for fast money in speccies and those are the people who are feeling mpst of the squeeze due to seemingly unprecedented inflation and interest rate rises, so they sell. Renergen has never been about fast money, it has been about cornering the market in an area not too many people know about. We know for sure that they want to do dividends after phase 2 is built. If it takes a dividend yield of 20-40% to see a significant rise in SP then I'm happy to wait for that.
Renergen General Discussion, page-1381
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Last
99.0¢ |
Change
0.270(37.5%) |
Mkt cap ! $30.02M | |||
| Open | High | Low | Value | Volume |
| 72.0¢ | 99.0¢ | 69.5¢ | $336.6K | 430.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1630 | 98.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 99.0¢ | 2064 | 1 |
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| RLT (ASX) Chart |