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642 Posts.
45
13/11/13
11:24
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Very illiquid stock, so the sell-down may simply be one investor who needs to free up cash, or is nervous about an acquisition etc.
Conversely it only takes one buyer who wants to spend $10-15k and it sails back up to 7c.
As it stands, market cap is only $5.5m for a company that made a $1m profit last financial year. PE of 5.6 with a significant deal announced recently.
Can't be too much downside at this price for the long term investor. I can't see the support at 5.5 being broken.
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