Someone bought 150,000 shares at 1.4c - window dressing in action.
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It is something of a surprise, pleasantly surprising for some I'm sure. Plenty of volume on the buy side at 1.3 and a comparatively modest amount on the sell side at 1.4. Are shareholders taking a 'may as well wait and see what happens' approach now that Comvita is part of the long-term picture ?? Another 6 months of holding is probably not too much to ask, given what has been endured in recent times.
Yip. That "window dressing" starting to become expensive. VWAP 0.014 for the day.
Lifes rich tapestry - SEA firms - CVT drop 20 cents ($8m in capitalisation) clearly one group of shareholders more excited by the deal than the others.
It is pretty hard to get your head around what's happening - company was for all intents insolvent, can't get bank funding, issue convertible at almost half current price and price firms on the back of $4.9m loss (and its not like its an unusual occurrence - its never made a profit and has accumulated losses approaching $23m).
I would love to understand what the thought process behind today's buying was.
Ha ha ha...I'm starting to think you are stalking me Apathy.
I'm enjoying reading your posts from Prague during my morning coffee - after your day's trading. Have seen lots of interest in Omega 3 through Europe actually.
I am sure you know I am an investor so these short term issues are of no interest to be honest. I admit your comments may have relevance to the traders though.
Happy days are ahead......
Dear Apathy
Look at the positives (from 30/05 press release)
- Seadragon has "transformed"
- The board has been "refreshed"
- Minor technical things like "Inventory systems not being fit for purpose" have now been addressed
But to be honest, I'm stunned by today's buying !
Not sure stalking is the right word but I do genuinely miss the levity you bring to the forum - your insights are comedic genius and I always leave with spirits lifted. I mean 'investor' and ' short term issues' are just pure gold. It brings back happy memory's of John Clarke and Bryan Dawe in their heyday! https://www.youtube.com/watch?v=wETpW43WYjo
Volumes on both the buy and sell side are at elevated levels. Will be interesting to see exactly how many shares have been traded by the end of the week. would love to know who is buying, obviously. Demand for omega 3 in Asia, particularly China, is also at high levels.