Will $ALT bounce from the floor?

Today's SP drop to $0.006 - a record low - may reflect selling pressure from one or more of the Top 20 shareholders.

We'll find out more when the annual report's released next month.

The drop means a 25% paper loss on new issue shortfall shares taken up through underwriter Patersons Securities, and may put pressure on the quotes for ALTO and ALTOA.

Which spells opportunities to buy at the floor(s).

And I'm encouraged by the appointment of a new director, Thomas Lonngren.

Lonngren is a regulatory expert, having run the European Medicines Agency for 10 years.

He would have applied extensive DD before accepting the ALT board post.

If he's optimistic, so am I.