The share price was up for much of the day, having started off from 9.4 cents/share and reached a high of 10 cents.
During the last 14 minutes of trading when the share price was 9.8 cents some people/person simply decided to just get out - they sold 600,764 shares over that 14 minute period.
This is a now a very thinly traded share, like many of the other speccies during a period of heightened risk aversion. Yesterday only about 53,000 shares traded. In the circumstances the share dump had the expected outcome and the price fell a lot.
Monday is another day. Will there be dumping on Monday, Tuesday, Wednesday etc from here on? I dunno. What I know is that traders would have bought MUN recently and have decided that it will take time to get a good return while the market as a whole is difficult so they have no incentive to hold. The loss to them is just part of their cost of business.
We will find out if there is any possible connection between this dump and the quarterly report when we see it in the fullness of time. As I said I still expect MUN to be cashflow negative until Crista is in operation.
loki
MUN Price at posting:
9.1¢ Sentiment: Hold Disclosure: Held
