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ASC 1.6¢

Adultshop - more accumulation

  1. munch

    3,567 posts.
    We're seeing some more accumulation by the same brokers today... again comsec/etrades etc are doing the selling.

    We'll have to wait till the end of this month to get a further confirmation of growth via the quarterly cashflow announcement.

    In my opinion a lot of new potential investors became attracted to the stock via the broker roadshow and subsequent related media. However quite a few are waiting to see what this quarter produces and want to see the price stabalise. They'll get both of these in the coming weeks. The price has remained above 30c since the profit projections and we should be pretty confident ASC will beat their forecasts. What does this spell for the share price? I think the only way is up... I wouldn't be surprised to see 50% or more from these levels in the coming months.

    Cheers,
    Munch.

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