OOK 0.00% 0.0¢ ookami limited

It was disappointing to see this break the 5.3 support line...

  1. 424 Posts.
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    It was disappointing to see this break the 5.3 support line today, but watching the trading over the last few days I have noticed there has been large sell orders placed in the morning and then removed in the afternoon on the offer. In a fairly low volume environment this says to me that somebody (ie Peter Wall) is trying to get out in a hurry with little regard for price, or this is being pushed down for accumulation. Who knows - maybe both? I certainly think it is no coincidence that TTL, another PW shell which has sat dormant for years, now conveniently appoints a blockchain expert a week after leaving OOK. I wouldn't be surprised if PW is liquidating his entire position to focus on TTL which will likely be competing for investor funds with OOK. Considering he didn't pay a cent for most of his stake, anything is good value. While normally I would expect this to fill the gap at 3.6, I really can't see this going much lower. EV is currently only $13.5mil, which includes Akela (which is already producing revenue, with two more offerings scheduled for March), the investment in Brontech, and now collaboration with NCX (with potential equity investment flagged), Directors who have a great track record with RTOs, and a blockchain expert who is hot industry property. Even valued as a shell with the current cash burn, money in the bank and managerial team you would expect this to be valued at a minimum $5mil EV, but in the current climate less quality shells have been going for between double to triple this. I think will drift for this week, and then reverse once PW is out. But hey, if it goes to the low 4s, I'll be happily waiting to top up.
 
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