Much like the 52c bidder at the start of the day (ie 10:30am) upped their bid until they got filled at a higher price.
What was ood about those two bids were the bid amounts... ie 155674 at 52c moving to 154625 at 52.5c etc etc
Today was a funny day. Every time the buyers looked like gaining some momentum sellers appeared to change the bid/ask balance.
Thats ok. There have been alot of 25k and 50k sells hit the market over the last 48 hours, and I would imagine that would be under 30c buyers taking their stag profit, either whole or part. The fact that despite this we still continue our upward trend is the most encouraging aspect.
How you play this depends on your investment horizon/understanding of the company. The fact that they didnt co-announce the BPO announcement speaks volumes to me. Either 1) they didnt deem it material enough (Doubt it) or 2) They were all too busy on something else
IMO you dont need to be a rocket scientist to see that the tide has turned. ANZ have less than 8m BPO left to sell, and BPO have put out 2 announcemnets in a week relating to SLA products. Furthermore, SLA have themselves released a pretty significant announcement and also called a shareholder meeting where more information will follow.
All this has happened in quick succession and has all happened following the last stages of ANZ's stage in this saga.
Now is the time to look forwards and not backwards and there has been a lot of sh!t that has happened over the past 4 months, 12 months or even over the last couple of years. The one thing that has held constant is the directors and their desire to get a product to market that will not only benefit shareholders, but more importantly save the lives of many people. This goal is about to be realised, and we will hear alot more about it in 8 days time.
What happens to the SP between now and then, and even beyond the meeting is anyones guess.
If you are a trader, trade
If you are an investor, invest
If you are an observer, observe
Each to their own.. it works for me.
SLA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
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