The SP seems to be under sustained pressure from the shorters to keep it in the low $5 range, presumably so they can cover if required to do so at short notice. It's worth remembering that Pitt St Research valued WBT at $9.56 per share as recently as 19 June 2023, based on achievements to date, and a comparison with peer eMemory :
"Valuation of A$9.56 per share
Our previous valuation for WBT of A$6.10 has been reached and exceeded. Given the company’s progress so far in 2023 and the expected news flow during the remainder of 2023 and into 2024, we believe WBT’s valuation gap with a peer like eMemory is likely to narrow in the next 12 months. On that basis, we believe WBT should be valued at A$9.56 per share, which implies 43% upside form the current share price."
Since 19 June, WBT have made two very significant announcements :
29/06/2023 10:21 AM ASX WBT's ReRAM IP now fully qualified in SkyWater S130 process
01/08/2023 8:40 AM ASX WBT qualifies ReRAM module for automotive grade temperature
On the fundamentals, the SP should be moving up towards the $9 range. Surely there's no justification for it to be still sitting at ~$5 ?
All IMHO, DYOR
Weebit - 2023 and beyond, page-1994
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$1.95 |
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Mkt cap ! $368.3M | |||
| Open | High | Low | Value | Volume |
| $1.98 | $1.99 | $1.91 | $1.676M | 855.2K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5128 | $1.95 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.98 | 3374 | 1 |
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