If my failing eyesight serves me correctly, today’s volume was the highest daily volume in almost 3 years (with most of it done before midday AEST) and the closing price was the highest since August 2016. However, the fact is that the dollar volume of trade is still ridiculously low. What is $500K of volume traded in a stock with all the attributes and imminent news flow that MAT has?
It is my belief that today’s volume and price action is the shot across the bow to the market. It has awakened a few market participants to the fact that MAT exists and has enormous potential. This interest will continue to grow over the short term as further news flow hits the market and perhaps a few analysts start to do their homework.
IMHO, MAT is at the start line and the race is just about to begin.
MAT Price at posting:
28.5¢ Sentiment: Buy Disclosure: Held
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