It's run further than I thought it would before consolidating, and the current SP action seems to indicate it has further to run before a consolidation occurs.
Some thoughts; Takeover Not yet. The SP rerate started straight after the raise. Trent made it clear 6 institutional investors were involved in the raise, which was oversubscribed. Therefore, I suspect these institutions are still accumulating. To what position size and price, is the question. MUFG I can't rule out MUFG taking a position during the past few weeks. Thing is, we may never know, unless the investment was made directly and not via an investment intermediary as a nominee holding. Volume Volume has been greater then we have experienced in the past few years, but relative to other rerates I have been part of, this volume is small, although consistent over the past 4-6 weeks with volume driven (I am guessing) from existing holders taking some profits off the table. Earlier sellers (say between .023 & .035) I believe were those disgruntled holders selling their entire holdings. For example, we no longer see the very negative posters that once pervaded this forum over the past 12 months and longer. I am sure, they are now very sorry they got out.......(if that's what they actually did). Value SP v's Value. I am not going to get into this debate, other than to say this company may become one of those ASX listed companies that are perennially expensive in comparison to their underlying fundamentals. By the way, if Wrkr do not procure the expected MUFG Super clients, this SP will drop like a stone! In saying this, I concur with @jocko, that the smart institutional money entering Wrkr now, would have done their homework and are well aware of the likelihood of Wrkr's success in winning MUFG's Super clients. Market Cap There are many institutional investors that will not enter a stock until it reaches a certain MC. I wonder who else might join the register when Wrkr reaches a MC of say $150M.
I have been a long term holder, I will stay a long term holder and this price is still very cheap from where I expect it to be in future years. I thought a SP of .08c by December would be a great result....now I may be a little uncooked with that estimate
@patawalonga; looks like you will get to spend some of your investment returns sooner than you think
I am so glad for all early holders that believed in Wrkr's story before the market woke-up and saw the same potential we did and a big thank you to Trent for bringing the smart institutional money that has furthered the market's growing belief. Ian
WRK Price at posting:
7.0¢ Sentiment: Hold Disclosure: Held
