Pinned straw:
Yikes - just saw the $0.105 price.
I didn’t take the share offer thinking a single macro event or two could easily take it to 0.12 cents, but didn’t expect this.
Will be topping up tomorrow if this is still the price.
Wednesday 19th June 2024: You'd think most people would have their tax-loss selling done by now, but there might be a few that are still running the numbers and realising they have some capital gains to offset and they just might scan their portfolios for a few dogs with fleas. I asked over in this thread five or 6 weeks ago - https://strawman.com/forums/topic/4554 - in terms of Envirosuite EVS - "If anybody still likes Envirosuite (EVS), they're getting cheaper and cheaper - imagine how cheap they're going to be by the end of June !!" - that was on May 14th, and they'd just made a new all-time low of 4.8 cps. Turns out that was very close to the bottom - for now - as they only got to 4.5 cps on May 22nd and 23rd and are now at 5.4 cps (5.6 cps yesterday). So they popped on this 13th June release: Response-to-media-speculation (1).PDF.
With AVA however, it's been crickets. Nothing to cause a pop, just more and more selling. We still realistically have a week left if people want their trades settled by Friday June 28th - the last trading day of this financial year. If this company lives up to even half of their potential, they are cheap, but sometimes it's hard to pick the companies that are being oversold simply due to tax-loss selling and companies where people are just giving up because they've lost faith in management, often with good reason.
Can't give advice. I no longer hold AVA or EVS, either here, or anywhere else - certainly not with any real money - but I have previously held both of them and have lost money on both, after making money earlier (net loss EVS, net profit on AVA). I can only highlight what CAN happen:
Swoop (SWP) were trading in the low 20s (cps) in June last year (closed at 22.5 cps on June 30, 2023) after falling all the way down from $2.31/share in September 2021 and heading consistently lower during FY23 (from 65 cps to 22.5 cps), and then on July 26th they closed at 35 cps after rising about +55% in around 4 weeks. So were they oversold in June last year?? People buying them in July must have thought so, but they closed today at 17.5 cps, being exactly -50% below that 35 cps high last July, so they've been smashed even harder THIS June. Personally I'd be arguing that Swoop's underlying business is significantly better than AVA's is, but the market doesn't care - they hate both of them right now.
Somebody is wrong - is it us - or is it them? Time will tell.
@strawman, is there a junior miner we can invest in that is targeting this elusive hopium?