I think that the CFO has shattered any confidence that anybody had in the company ….what a debacle as share price slides into the 30s
wonder if revenues will even get to $40m .."with a huge loss.
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So Craig has been feeding the Ask, still has heaps though some small satisfaction that he’s been unloading into low bids.
Craig is cursing PX1. Obviously he was let spend quality time with family and be CEO of himself (see Linkedin) by Phil.
This bizarre box moving has mopped up 9m shares last few weeks..... someones cunning game plan eh? :confused:
It's all relative. It's a huge 'discount' from $1.20 prior Cap Raise. It's also a good buying opportunity discount from the most recent cap raise. Where the lower end trough forms is really a guess in todays market as traders can swing and influence the SP pretty strongly. Yes it may well be 0.40 cents finds a support level. Where ever the trough forms and support kicks in will likely see a 20% bounce press soon to follow as bargain hunters realise the run around and jump back in. Would likely push SP back up to 0.60 which is the price Plexure assigned Task share as part of the deal. When will this happen, anyones guess really. I suspect either of 2 scenarios. 1 this happens when Task starts making more positive moves in restructuring the company and they can progress with their customers. Or 2 when the market/traders feel a bottom has formed and jump back in to catch the upswing. For those that have acquired shares at an SP considerably more than what it currently is, it would be better to wait for the rehearsal and SP to head north of 0.60 rather than sell for a loss. Sometimes a steady hand can lead to better outcomes rather than fear pushing sell orders and driving SP lower.
Disclaimer holding for the reversal, buying on the dips, topping up at these levels, sub 0.40 definitely a buying opportunity especially if willing to sit and wait 6-12 months to give Task benefits materialise. Task won't be happy to see their shares which were factored in at 0.60 being valued at 0.45 today. They will want to get things rolling and make some positive announcements within the next coming months to turn that around.
Whats the old saying, buy after bad news when fear has SP low, Sell after good news when the ship is steaming ahead. Those traders that seem to do well have the timing right.
I confess I smiled to myself when I saw that. He either desperately needs the money and can't wait for it to bounce back or has lost faith that it ever will.
I look back on that presentation that Phil and the board did on the TASK merger and talking up the companies and feel it was in bad faith. If it wasn't for the fact that it would tank the share price even more I would suggest a law suit because there is no doubt some of this was known.
LOL "CEO of Self" for 4 months.
Very good.
Could be. I think the long lead time for each sale was an obstacle that was frequently dismissed as inconsequential when questioned at AGMs. Having said that Plexure have some great customers and testimonials. They have failed to capitalise on them and haven't expanded into other market segments but the potential is there with the right leadership.
I also think Craig and Phil expected the ASX listing to propel them into the big leagues and miscalculated big time on that. The Aussies invested but they didn't get overly excited about the listing.
PX1 still dropping! I thought it might have hit its bottom but it looks like it's going down to 40 cents. Hopefully that's because Craig is dumping shares at market and things will bounce back in a couple of days.