talk of smart money been and gone and DD is it good is a laugh. The price action has only been for 1 week so far, the only people who are in and out are retail daytraders. Smart money is looking to accumulate which has been happening and then looking for the news flow to carry the price to multiples of where it is now. The basis of this is sentiment in this health sector with new age technology to deliver the product. This sentiment is seen in RAP with its rise from 2c to 25c. Smart money in RAP were not in at 2c and out at 3c, well i would be smarter since 2c to 20c wins everytime!!!!!
Its daytraders that are just in and out at this stage.......and care little for the fundamentals or even the outcome of DD, they only concern is if the backdrop of those fundamentals can create short term momentum in the stock....
My experience DD is usually mostly done before the deal is announced. its not like MNQ management go into Curtin uni say lets do a deal on this tech and announce it the next day. there is usually a lot of back and forth and meetings prior to releasing to the market any acquisition.........of course until the announcement comes it is progressing the market can speculate!
MNQ Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
