AOK (ASX) Whats with the sell off?

Originally posted by FatTony66 ↑

Interesting change of sentiment on AOK on hotcopper. When the stock trended from 16cps to 20cps everyone was talking it up. Now its dropped from 52week high from 29 down to 22.5 people are making dire comments based on hearing chinese whispers at functions...

There has been no news from September 2nd and the stock has traded down in a difficult market under difficult macro economic conditions. Its also coming off the back of a significant 52 week trend (from 11cps to 22.5cps = 100% return!)

The only concern is that AOK are late to deliver their monthly production numbers amid the deployment of their gas infrastructure. Production numbers are probably going to be steady given they may not turn on preproduction wells until the gas infrastructure is complete. There has not been much disclosure around how this is tracking which may be a concern for the market. Otherwise the fundamentals and the story so far on snake river makes this stock a strong buy for the next 12 months.

Also the volume traded has been declining along with the share price indicating that the volume doesn't support the decline. The declining volume traded has been across a higher number of traders indicating its not sophisticated investors selling during Sept but day traders or mum and dad investors.

Let's see how the next 2-3 months pans out with the next update from AOK before any dire baseless assumptions are made.

Talk about down ramping on HC, based only on a short timeframe (4 week) downtrend, on a stock that has some excellent long term potential and a great development story to date....

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You're not wrong FatTony bar for one thing. It appears Shrewd crude is the only poster talking AOK down.
Moreover, Shrewd Crude may well have posted onto the wrong thread.
if that ain't the case, imagine AOK or any junior oiler undertaking a capital raising.
no, surely not, surely not in an equities market.
Shrewd may well have unintentionally damaged his own credibility, assuming he had some, by posting on the wrong thread in a post that demonstrated he kmew nothing about AOK.