Is POD the worst chart on the ASX? It would have to be up there. From April of 2022 to now it has fallen 90%. That alone does not make it incredible as many others have also fallen similar %s but the straightness of the chart line is remarkable. Apart from a brief period in July 22 and again in Jan 23 it has not been able to have any significant bounce. Usually when a stock falls so aggressively it has decent bounces along the way. Not POD. And now we are about to break down through 6c. In this time there has been 3, maybe 4 cap raises. All at lower and lower prices. It will be hard for them to get another cap raise away given how the previous ones have gone. Strangely the project still has merit and they may indeed have a decent resource but it is hard to see how this turns around. I love the POD story and I hope for the long suffering shareholders (and MD who seems a good guy) this can recover and that FY24 brings some good news.
POD Price at posting:
6.0¢ Sentiment: None Disclosure: Not Held
