The aim to see management buying on market is not to prop up the SP but rather to bring confidence back.
Clearly the market believes that the current valuation is way too high. Add on top of that a director selling is not the best thing to see when holders are already on edge.
Agree that every one has their own play book. Don't get me wrong, I am neither saying that this stock is crap nor that it is over valued.
Just that TA wise, it is not looking good and that the downtrend is clear and strong.
This could be easily reversed but in the absence of further updates, the least the Mgt team could do is bring some confidence back.
Don't care if it doesn't lift the SP but at least help stop the bleed. Big red candles on a daily basis is not something holders want to see whether having a LT view or ST.
Weebit - 2021and beyond, page-5342
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Last
$2.55 |
Change
0.120(4.94%) |
Mkt cap ! $481.4M | |||
| Open | High | Low | Value | Volume |
| $2.49 | $2.65 | $2.46 | $3.607M | 1.405M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 8185 | $2.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.55 | 14261 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| WBT (ASX) Chart |