A2 main products are fresh milk and baby milk powder, do you think dairy auction result will much affect their business?
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Synlait make the platinum formula. At this stage that's not ATM's major source of revenue, which at present is the bottled milk in Australia.
ATM's platinum formula will be competing with other infant powders in China, so although it's great that it has Chinese registration, that doesn't mean an instant profit boom for ATM. The Chinese public will have to learn why they should pay more for ATM platinum.
And platinum also has other markets that don't rely on Chinese approval. The places to watch, IMO, are UK, Europe, Korea and USA as well as Australia. I think far too much attention is being paid to the Synlait connection by speculators. As a long term substantial holder (AWPP 11 cents) I just can't see why the ATM SP has been moving around so much. Irrational.
Looking good for a continuation of todays action tomorrow if the US market doesn't throw any curve balls overnight. I'd be picking it to touch 70 and close around 68, but we shall see.
Disc: trading it.
Welcome aboard. Same as you, I felt that each parcel I bought, it was replaced straight away by another parcel of 30 to 100 thousand. So somebody it seems is drip feeding their large holding into the market. It really made me feel like a duck. No worries , we will see how the milk run goes tomorrow.
I bought in yesterday to, but with the big sellers capping everything i wonder if i moved to soon, time will tell.
Higher volume today at over 3.2m by only 1.40 pm (the highest for over a month). High volume often, but not always, signals a pivot and momentum swing.
It's still a long time before we get to the November AGM -- I suspect some more good news is required before we see a turnaround to this present downward momentum.
Discl: holding.