Pinned straw:
12-July-2023: Back in Adelaide (from our short trip to Sydney), and, as usual, something positive has happened to one of the companies that I hold shares in (usually happens when I go away and stop watching the market for a few days). Not a takeover offer this time, and I'm glad of that, because this company is trading WAY too low for me to want them to be taken out by someone else down here, but Swoop (SWP, the worst performing company of the three that I picked to do well in FY23, i.e. they didn't!) appears to have finally broken that downtrend that they've been in for a decent amount of time - like, since September 2021 when they got up to over $2.30/share. They were recently (in mid-June 2023) trading down at 17.5 cps (cents per share). They've been heading the right way lately however, on no news, just the continued on-market share buyback that they've been doing for many months now. In fact their share price has damn near doubled from that 17.5 cps low to today - in about 4 weeks.
Of course, they're coming off a very low base now, so it's clearly a lot easier to go up by double digit percentages when your share price has come down that much from over $2.30 to under 20 cents/share.
I hold SWP shares, and it's not been a fun ride so far. Perhaps the rollercoaster has bottomed?!
Don't really want to do that drop again!
Thursday 13-July-2023: Swoop (SWP): Response-to-ASX-Price-Query.PDF
Swoop up another +18.33% just today (at 35.5 cents/share), as I type this, but they've been up to 43 cents per share this morning, which was +43.33% above yesterday's 30 cents/share close. Little wonder the ASX issued a "Please Explain" (a.k.a. a "speeding ticket"). But Swoop have no explanation, which suggests they simply believe their shares were WAY oversold prior to this rally. Hence why they have had an active on-market share buyback operating.
Disclosure: I hold SWP shares.
P.S. You wouldn't be too happy if you'd sold them mid-June for tax-loss purposes at under 20 cents... They got down to 17.5 cents/share on June 14th.
BTW, SWP actually finished the day "only" up +5% (or +1.5 cps) at 31.5 cps (cents per share), as the market settled down after reading Swoop's "We know nuthin'" response to their Speeding Ticket today, and 31.5 cps is a fair way below their day high of 43 cps, which was (at that point) +43.33% above yesterday's 30 cps close.
Friday 14th July 2023: Swoop (SWP) finished the day up +6.35% (another 2c up), and the week up +52.27% (+11.5 cps from 22 cps to 33.5 cps).
The correction is on.
Let's ignore the 3 year chart and just look at the 3 month chart for a minute.
Ahhh, blinkers are gooood!
31-May-2024: Check this forum thread out relating to what happened to Swoop Holdings (SWP) in June and July last year (2023) - They got down to 17.5 cps and then doubled in July.
Unfortunately they've been back down to 18 cps after getting up to an intra-day high of 43 cps last July (and a 35 cps closing high on the same day), and they closed at 18 cps yesterday. I keep saying I won't buy more of this one, and then I do, most recently yesterday at 18 cps. And today we have some buyers coming in at 18.5 cps.
Wonder if we'll see this again in July:
All chart data above sourced from CommSec; the 2nd chart (the one directly above) is just the three months to July last year. The one above that is the 12 months up until 3:39pm Sydney time today with todays trading data added in.
Swoop (SWP) are arguably in a better position now than they were 12 months ago. I expect them to drop further in June of course - due to further tax loss selling, but July could be interesting.