I thought sudden volume increase may be due to traders getting ready to pump for next positive quarterly. And sell the news like last time. Then I found this. Anyways, good to know that the wide market realize that BLY may be undervalued and see the potential. For the last month or two, it hardly traded 10 M shares a day. All of the sudden 200M shares traded today. It may trade around 2.0 C with the expectation of good quarterly result. The share price should then fall or continue to rise based on the result.
Boart Longyear Ltd. (ASX: BLY)
2017 certainly was a long year for Boart’s shareholders who watched the company’s share price drop by almost 90 per cent.
But 2018 is looking better for the Boart share price, having gained about 9 per cent on Wednesday.
Boart, a leading supplier of drilling services, equipment and tooling for mining and drilling companies, with a market value of $315 million, may turn things around this year.
In the quarter ended 30 September 2017, Boart reported revenue of $70 million, 14 per cent up on the prior corresponding period.
BLY Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held
