Today's trading was very interesting. A positive announcement and SP spike followed by selling down into the buy volume. I believe this triggered some stop losses shooting the SP down further. The truth is, its hard to evaluate what this share price should be. But given the market for these biotech apps, and a $7m MC, I find it hard to argue that this stock is not undervalued. For those retail investors that are nervous by todays trading, just keep in mind that the app is being developed and is showing positive results. The share price will increase as more studies are done and results announced.
Nothing like dropping 12.5% following news to ruin market sentiment though. Really people should be stuffing their pockets full of 2.1c shares. IMO
MNQ Price at posting:
2.1¢ Sentiment: Buy Disclosure: Held
