I got out of this and never look back. The trials and tribulations of this company soaked up too much of my attention and emotional energy.
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Believe UBS PT still $11 ..........Darts ready for Spin The Wheel Game
That's an important observation and highly likely the driver for the price increases the previous couple of weeks. I reiterate my previous comments that ever bounce that occurs without a weekly trend change is no to be trusted. It is most likely just just momentum traders and shorts covering as the price gets higher and higher.
The weekly chart paints the best picture. There's heaps of detail I could add, however it boils down to a weekly downtrend that's still intact. A loose downtrending resistance line is worth watching too. With this is place there's no reason to be positive. Change that weekly trend and things could get interesting (I wouldn't bet on that happening though...). Daily price action is ultimately just noise.
Buying or shorting looking for weekly highs/lows has been very profitable.
Attachment 13088
https://businessdesk.co.nz/article/p...k-class-action
Paywalled
Hundreds sign up for class action against A2M.
Looking like damages against A2M are going to be in the billions of dollars if the class action is successful.
Not just those that have written the professional indemnity insurance contracts that should be worried. Gross negligence is often not covered and might sheet home to the directors personally as well as the management and the company. They should be quaking in their boots, they have a very serious case to answer. Insiders who sold large parcels of shares immediately after saying there was strong growth ahead might be a good target too.
Name them all as defendants and get on with it.
Always best to stay well clear of companies involved in litigation. It is a huge distraction to the running of a company and even more so if the directors and management are personally liable.