After the initial buying up of stock for the ADRs in the US it obviously all comes down to demand (if we are just talking about the US). That will depend on how the sector is being viewed, how the technology is currently being viewed (i.e. DNDN), how the economy is doing, etc. Just two months ago I would have said things were iffy but now the numbers coming out of the US are surprisingly good on all of those issues.
No doubt local brokers are recommending PRR to their clients because of the Naz listing and the swirl that causes. The same guy that was quoted as saying "it's not rivers of gold" also told his Profit Hunter Group to buy at 18c. His first target was 24c with the next target being 30c. He did say it might retrace to 19c but personally I would only expect that if this run-up were not being driven by news and it was just a general gallop.
Exciting times!
After the initial buying up of stock for the ADRs in the US it...
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Last
29.5¢ |
Change
0.005(1.72%) |
Mkt cap ! $428.5M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 30.5¢ | 28.5¢ | $469.8K | 1.579M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 297652 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.0¢ | 7500 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| IMM (ASX) Chart |