I would hardly term this a "sell down". Just because a couple of people have sold off their shares at ridiculous prices doesn't mean that all shareholders have lost confidence in the company. Who knows, perhaps the people selling saw better opportunities elsewhere or needed the money straight away. The worst any current holder can do is to jump on the artificial "sell down" bandwagon and offload their shares. No one who is sensible enough and does not need the cash straight away would give up the very interesting phase which the company is about to enter.
I know I won't be selling given the prospects of the company. All it'll take is one good announcement or even a rumour of an offer from a prospective takeover company and this thing will fly and possibly make an all-time high. The commercialisation timetable is also starting to take shape and looks very exciting.
Most of the current shareholders have had the confidence to ride out the peaks and troughs so far, so with the possibility of exciting times coming very soon I can't see many more sells in the 11c to 12.5c range. At 11 to 12.5c this is a good opportunity for some people to make a quick buck as there's no doubt the price will recover very quickly as Gormless88 said in his post. I am not too fussed whether it takes one day or a few days before buyers are again trying to push the 15c resistence.
It'll be interesting to get the views of other people who've been in this stock for a while and what their opinion is about when the price will start testing the 15c mark again.
KSX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
