I've seen people complain about this multiple times on this forum and want to point out this is a ZERO CGT stock. We are all well aware that day traders/short term traders exist. As well with government payments to many Australians in the last 6 months to a year there has been an increase in retail investors, who have little experience on how markets work which provides a perfect opportunity for day traders/short term traders to exploit. This from what I gather will be a constant trend in these ZERO CGT stocks, especially in these market conditions.
An example of a similar stock which is also registered under the Pooled Development Fund act (PDF) is BTC. This morning they had a positive announcement to do with securing exclusive distribution deals with their product which followed the SP pump to 19.5c then dump to as of right now 8.8c.
This, from what I can tell will continue to happen in these PDF stocks and it looks to be a part of the game. I would love to find brokerage data, if available, on the timespan of how long this stock is held before it is sold which I believe would indicate short periods, especially after positive announcements.
Good news for this stock is after the so called dust has settled we are seeing a semi- stabilising re rate to the share price which if you are in this stock for the FA and speculative projections, short to mid term is looking promising.
As always DYOR
