I am doubtful that the price can dip much further as the price volume seems to behave like a highly compressed spring, waiting for a strong recoil at any moment. One must have strong courage to buy into a big position when price is right cheap now, if you plan to make BIG money from stock market.
I like the management team which seems to have strong executional capability in the way they are growing MXC into a global company. Developing CannEpil for Epilepsy is a really smart move given the huge market potential right in Australia, 230,000 new cases a year! Once proven, assuming 10% prescription for CannEpil would result in A$230m a year for MXC.
Securing the full license in Malta with 4,000 sq m facility is a great feat that enables MXC to serve the 740m population European market with $50 billion cannabis industry currently. This will give MXC a first mover advantage compared against other competitors into the Europe.
The fact that HMJR own about 2.4% also gives me lot of comfort. Why would HMJR only selected four pot stocks under ASX out of so many really spoke a lot about MXC. And I believe that HMJR would be staring at MXC all the time to see how they can buy from open market cheaply.
Don't wait too long as I have a strong feeling that a strong rally is about to begin. Cheers!
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Last
32.0¢ |
Change
-0.010(3.03%) |
Mkt cap ! $15.48M |
Open | High | Low | Value | Volume |
34.0¢ | 34.0¢ | 32.0¢ | $6.532K | 19.88K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 15000 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.5¢ | 5000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15000 | 0.260 |
1 | 20000 | 0.250 |
1 | 2200 | 0.230 |
1 | 4761 | 0.210 |
1 | 14600 | 0.205 |
Price($) | Vol. | No. |
---|---|---|
0.345 | 5000 | 1 |
0.365 | 11738 | 3 |
0.370 | 2000 | 1 |
0.380 | 1522 | 1 |
0.395 | 8746 | 1 |
Last trade - 14.37pm 04/09/2024 (20 minute delay) ? |
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RGT (ASX) Chart |