cash backing of 7c per share ($5.8m), imo good risk/reward ratio below and at 8c (circa $6.6m market cap).
see what happens once the overhang is cleared hey. those buying today and yesterday should be aware of the 11m held by ex director. possibly using the opportunity to get some leverage here before it continues up.
10m+ traded the last 2 days.. should be interesting going forward, especially if the selling dries up. AXT is not done here at 8c. i reckon it might consolidate for 5-8 days though, before surpassing 11.5c. it really could go anywhere, and when the volumes go down, it should be pushed around pretty easily.
wait and see i guess
AXT Price at posting:
8.0¢ Sentiment: None Disclosure: Held
