Price wasn't more than double this level prior to EMC purchase. The SP was at the end of another 18 month decline and had reached 2.8c. The SP then spiked around the EMC purchase, company rename and state election campaign idiocy, and as it worked out it was all hype and little substance.
The (wave energy) direction wasn't "positive up until EMC acquisition" either. What exactly was happening at that time was that Ceto 5 had come and gone, it hadn't gone well and Carnegie still hadn't told the market that it hadn't gone well or that Ceto 6 was going to be delayed by several years as they worked on redesign due to Ceto 5's mistakes.
If you're waiting for something positive about Ceto, you'll be waiting another 18-24 months. Nothing will happen by year-end. The only thing that might (MIGHT) happen by year-end is Northam coming on line. And personally I don't think they'll make it before next year.
CCE Price at posting:
2.2¢ Sentiment: None Disclosure: Not Held
