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05-06-2019, 02:46 PM
#221
Share price keeps pushing higher - $2.90 now - its highest point since November 2016, and only 10% off a record.
Almost hard to believe a mere 7 weeks ago it was down in the dumps at $1.70, a record low.
And ever since the mighty rebound in that 7 week period, volumes have been (and continue to be) substantially higher than any point in AFT's listed history... momentum and interest is certainly building, although won't rocket up (along with a rocketing share price) until the founder decides to make a placement to a broker(s) (who'll then turn around and publish research reports with $4 price target or something)
They say management pretty pleased and confident with AFT's recent results and position going forward, maybe that's why the share price has kept rising...
AGM 2nd August, as with every year, I'll be there... aside from the usual annual general meeting stuff (eg nice finger food), should get some free maxigesic as well
Last edited by trader_jackson; 05-06-2019 at 02:52 PM.
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05-06-2019, 04:40 PM
#222
yeh some good buying interest into which I reduced one third, which was my speculative holding.
For clarity, nothing I say is advice....
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06-06-2019, 05:26 PM
#223
I thought it would be $3 by weeks end, but I was wrong, it is $3 now (a day early) and they still lining up at the $3 mark with just 1 guy left selling 230 shares at $3.20... in fact nearly 13.4k shares lined up above yesterdays closing price (of $2.90)
That's now alot, but it is alot for AFT, a company which had an average turn over of only a few thousand, until 7 ish weeks ago that is.
Imagine how nuts this is going to go when the brokers get some from the founder (in an orderly sell down) and need to push to their clients... might be higher than $4 price targets issued... but I'd be ok with a 12 month price target of $3 - that is 33% higher than todays price, and 135% higher than the price a mere 7 weeks ago.
Last edited by trader_jackson; 06-06-2019 at 05:28 PM.
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06-06-2019, 08:43 PM
#224
Originally Posted by trader_jackson
I thought it would be $3 by weeks end, but I was wrong, it is $3 now (a day early) and they still lining up at the $3 mark with just 1 guy left selling 230 shares at $3.20... in fact nearly 13.4k shares lined up above yesterdays closing price (of $2.90)
That's now alot, but it is alot for AFT, a company which had an average turn over of only a few thousand, until 7 ish weeks ago that is.
Imagine how nuts this is going to go when the brokers get some from the founder (in an orderly sell down) and need to push to their clients... might be higher than $4 price targets issued... but I'd be ok with a 12 month price target of $3 - that is 33% higher than todays price, and 135% higher than the price a mere 7 weeks ago.
Price swings on low liquidity stocks can bite both ways. I'm struggling to model how a $4 handle would be anything but born of hype... I'm happy to play the trade but can't see where that'd be coming from?
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07-06-2019, 08:19 AM
#225
Originally Posted by trader_jackson
I thought it would be $3 by weeks end, but I was wrong, it is $3 now (a day early) and they still lining up at the $3 mark with just 1 guy left selling 230 shares at $3.20... in fact nearly 13.4k shares lined up above yesterdays closing price (of $2.90)
That's now alot, but it is alot for AFT, a company which had an average turn over of only a few thousand, until 7 ish weeks ago that is.
Imagine how nuts this is going to go when the brokers get some from the founder (in an orderly sell down) and need to push to their clients... might be higher than $4 price targets issued... but I'd be ok with a 12 month price target of $3 - that is 33% higher than todays price, and 135% higher than the price a mere 7 weeks ago.
Seems the SP has been rising like a rocket since the owner/CEOs positive talk around Medical marijuana. Almost as good as Bitcoin!!
Last edited by Leftfield; 07-06-2019 at 08:44 AM.
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07-06-2019, 10:05 AM
#226
Originally Posted by trader_jackson
I thought it would be $3 by weeks end, but I was wrong, it is $3 now (a day early) and they still lining up at the $3 mark with just 1 guy left selling 230 shares at $3.20... in fact nearly 13.4k shares lined up above yesterdays closing price (of $2.90)
That's now alot, but it is alot for AFT, a company which had an average turn over of only a few thousand, until 7 ish weeks ago that is.
Imagine how nuts this is going to go when the brokers get some from the founder (in an orderly sell down) and need to push to their clients... might be higher than $4 price targets issued... but I'd be ok with a 12 month price target of $3 - that is 33% higher than todays price, and 135% higher than the price a mere 7 weeks ago.
Wow, nobody selling now... not even that guy with 230 shares.
Buyers equivalent to 2 average trading days still lined up.
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07-06-2019, 10:09 AM
#227
Originally Posted by trader_jackson
Wow, nobody selling now... not even that guy with 230 shares.
Buyers equivalent to 2 average trading days still lined up.
Maybe we should start thinking about 5 bucks eh mate
Should have bought a few more when that cannabis story broke
”When investors are euphoric, they are incapable of recognising euphoria itself “
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07-06-2019, 10:13 AM
#228
Member
I'm really not sure where re-rating came from. Business as usual without any surprise and it has to be a cannabis story they mentioned. If something goes wrong from the parliament with the weed, then what would happen to AFT SP?
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07-06-2019, 10:22 AM
#229
It seems alot of people believe the share price has gone up solely because of the weed story posted 8 ish weeks ago... I don't believe this is entirely the case... AFT actually started talking about medical cannabis way back in August last year (maybe Mr Market missed this?)... instead I believe the share price has continued its rebound as a result of annual results... showing that if it can get its finance costs under control (which they say they are now addressing) it would have already been profitable to the tune of a few million... combined with the fact that top line is going to grow strongly over the coming year, margins probably expanding, gross profit growing in double digits, finance costs waay down... this will go from a small loss to a rather large profit (by AFT standards) which will likely continue to grow strongly... what I am saying is the medical cannabis stuff is just a bonus - their key product lines are going great, especially overseas, and Mr Market only just beginning to see the potential now.
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07-06-2019, 10:29 AM
#230
For clarity, nothing I say is advice....
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