I see things a little differently. The share prices and activity was a short term response to the news given yesterday. From the information I'm reading yesterday there were 73 trades and today another 97. Considering the shares are below 1 cent it’s easy to think there are large volumes of trading taking place when in fact they aren’t. Today’s trading was around the $100k which is too low to indicate APG has turned a corner from the market’s perspective.
If shareholders are looking for a significant rise then they’ll have to wait for many more buyers to enter the market. Yesterday’s 28% rise in share price would not have gone unnoticed by many speculative buyers but they haven’t responded. In general the market is indicating it is waiting for action and won’t be wooed by promising words anymore. Too often I’ve heard words from APG saying what they will do but never realizing any of the potential that so many of us have hoped for.
Yesterday’s news was exciting. Others reading this may agree that it finally sounds like Colin Iles has been given free rein in operations to put APG where it should always have been. The announcement shows the company has a clear direction of how they are going to achieve their goals. And after a very long time of reading APG's company announcements I finally believe what I am hearing.
If I held a crystal ball I think after pending news in September it’s genuinely achievable for the share price to hold in the 2 cent range. Although the market will continue to be reserved if APG falter in delivering their next announcement before October. But for now APG have made a tangible statement, and if the culture continues to evolve with actions speaking louder than words, then buyers will come, and 2 cents in the longer term will be considered cheap.
APG Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
