They have managed to turn the company around after about 15years of hell, survived only with the support of the billionaire founder.
But really!!!
They lift their own illiquid stock with multiple buy backs, then do a capital raising?? OMG
Should be illegal!
Still think it could be a great buy once it corrects savagely.
This is a one man show company
There is no way in its current capacity can do much damage to ALL or do anything great....
As soon as Ainsworth get AGI to pay back all his loan and retire it will be the end of this stock...
Looks to be on a bit of a runner this week.
Cash position is very nice. Chart too. Depth just tipped into buyers > sellers this hour.
Definitely some tree shaking going on, This stock doesn't have a big following other than the recent institutional interest. The instos are in complete control as they are with most companies. A dividend will change the way it's viewed imo and when the company can sort the free market float out and the stock can move into the asx200 then it's off to the races.
What I can tell you (and this is fact) is the fund managers and instos are very keen to get some action as seen by the recent cap raising. 3x oversubscribed and bedded down in one day at a price of $1.47. That's in light of the SP being sub 50c a year before.
Have you noticed the pattern over the last month? Drive it down and see if any nervous nellies put a sell in and then snap them up. I've tried a few different strategies over the last few months. I've put buy orders in and the bots just kept putting orders in front of me a half cent or 1 cent. As i moved the order up the bot would keep that gap in front. When I put in a sell recently it was smashed in no time.
Accumulation ATM, there's no hurry to exit (even on down days) on their part as they know full well the potential that lies within.
Still huge potential even at these prices. All imho
MSCI rebal today, added to MSCI small caps index
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