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25/08/16
15:11
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Originally posted by grandslam
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I think the reason for the drop is 'Covata' has been the number one recommendation (top 4 list) on Port Phillip Publishing's 'Revolutionary Tech Investor' subscription service for some time, (I think about 2 years or more) but yesterday it was removed from the list in lieu of other recommendations associated with the likes of technology associated with self-drive cars etc. Sam Volkering commented that the stock is still a buy recommendation and has revolutionary potential and remains below the buy-up-to price, but for now, Covata is no longer among our top recommendations. So the stock is still a but but....
Overall I would say, because the revenue is taking a long time to come through the works and the appointed contracts, we need feedback from CVT relating to the prime contract to push the SP up, but at present sentiment is against CVT. LSH's have been patient but now want revenue, and are aware cash burn is apparent.
Saying all the above, the SH seems very low considering we have contracts and revenue taking hold and we have cash for another year until we would need to go to a CR again? But correct me if I'm wrong.
Oversold perhaps?
DYOR & all IMO
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Subtle changes in chart structure and market depth suggest base low is close IMO.
Time to buy is when there is "blood in the streets". I've been a LT holder and feel the pain, but I have high conviction on this stock and topped up @ 14 cents. DYOR.
Cheers,