One can call the current price action as consolidation, digesting the gains...whatever. One thing for sure it is not bearish and i would bet on the upside breakout in the direction of the trend. However FINALLY it will depend upon the trigger how the market reacts to it when it comes. Normally markets tend to break in the direction of the trend. If we consider fundamentally and historically then current stock price is cheap if 65 Cent considered as average price and after that i think it hit 1.23 dollars before 1 for 20 consolidation. If we consider 400 million as rev and apply 1.8 multiple then also market cap comes to 720 million which is 20% higher than current market cap. There are many other ways to cut the cake and so many other factors to consider. Market wants to take one step at a time and does not want to go over board it seems. Not yet anyway.
MYX Price at posting:
$7.19 Sentiment: Buy Disclosure: Held
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