I have not been watching for bot action, so accept that this will possibly be effecting the SP. However I think the SP downturn is mostly a symptom of a change in the demand for all smaller stocks due to the recent 10% approx dip in the markets, compounded by extra supply from when the additional 47% or so more shares were added to the register in Sept and Oct.
I think that the recent turnover is helping clear the excess supply. I also think that this stock will be more volatile than the market and rise faster than the overall market. The SP has stayed above $1.25 mostly, so it has probably been tempting for those who took part in the SPP to take their (diminished) profits in a scary market.
If there is some news that is being traded on by insiders, I will be annoyed, but I think this is not the case.
WTP has typically traded at 1.5 times BV minimum - so based on this I would expect a minimum SP of about $1.57 x 1.5 = $2.36. At 1.5 times NTA we are still at about $1.55. The underlying profitability looks good if it is still at about 20 cps - suggests a minimum SP of $2. There is going to be a quick 25% to 75% or so profit in this one IMO.
I've bought some today at 1.22. Wish I got them cheaper, but I think I'll be OK!
WTP Price at posting:
$1.20 Sentiment: ST Buy Disclosure: Held
