Now that tax loss selling season is officially here (generally June, being the last month of the financial year where shareholders often look to crystallise losses) it will be interesting to see if this June mirrors recent previous years. Warning: Look away now if you don’t like facts and figures.
Tax loss selling season over the last four years saw an average drop in share price of Starpharma of approximately 13%.
Of course this year may be different, but If we see the same % drop this month then the SPL share price at the end of June could be around 7.6 cents.
There has been an approximate 21% drop in the SPL share price this FY so far, and that is also against a backdrop of a 97% fall from a peak of $2.52 to 8.7c.
Long-awaited positive developments or significant positive news out of left field this month could completely change the bearish share price, charts and sentiment. But let’s face it, shareholders have been waiting a long time. Let’s see what happens in the next 30 days.
P.S. I’m hanging on to my 1000 SPL shares for laughs
SPL Price at posting:
8.7¢ Sentiment: None Disclosure: Held
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