Has DXN finally hit bottom? There has been some positive share price movement since its Sydney data centre was opened last Friday with a particularly big move today, up 24.1% to 7.2c.
Is she finally ready to start turning around?
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I don't pretend to understand how these kind of Companies work, but a quick flick through their announcements gives a few interesting stats for anyone interested.
They recently raised a fair chunk of cash …. +$8 million at 0.05 cents
Macquarie Bank (MQG) have been adding substantially to their holding recently
Top 20 holders hold approximately 67% of the Co.
After todays close, the SP is $0.074 …
Market cap is registered at approx. $21 million on Commsec (not sure if that includes todays rise)
Cash on hand around $7 million (incl. recent $8 mill cap raise)
DYOR probably the best suggestion.
Call me weird, but I see a potential Buy/Accumulate trade developing here (dependent on appropriate price action of course)
Further assessment required at this stage; either ... or ... lol, but the tea leaves seem to be brewing for a move either way!!