Yesterday's announcement was a great step forward for the company ... "Weebit Nano reports excellent test results in preparation for the move to 300mm wafers at 28nm".
Then came the consolidation announcement. Before panic selling over the looming consolidation, ask yourself why the company was in such a hurry to announce it? I believe it is because they are in partnership discussions with a major player (now that the success of 300mm wafers at 28nm is pretty much a forgone conclusion) which has to sell a partnership agreement with WBT to its shareholders. It doesn't look good for this major player to be getting into bed with a stock worth a few cents and 1.5 billion or so shares on issue.
Today's sell off is one of the silliest I've seen. It's pure panic selling on the part of some ... and day traders trying to take advantage of it.
Ann: Notice of General Meeting/Proxy Form, page-123
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$3.19 |
Change
-0.100(3.04%) |
Mkt cap ! $353.2M | |||
| Open | High | Low | Value | Volume |
| $3.31 | $3.45 | $3.18 | $4.002M | 1.207M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 19867 | $3.19 |
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| Price($) | Vol. | No. |
|---|---|---|
| $3.20 | 4150 | 1 |
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