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MSC 6.4¢

LOOKING SICK

  1. Grant62

    4,742 posts.
    Back in late May, early June, there was a lot of commentary posted on HC2 regarding the fortunes of MSC.

    At the time, I incurred the wrath of GP for my comments on MSC. Since then, however, I have not looked in again at MSC. But, today, I have noticed that MSC has dropped to 24c on 450k volume, and is looking rather sick for the time being.

    Buying support appears minimal with 7 buyers seeking 272k in stock, and 46 sellers offering 1.7m units of stock.

    In amongst all this, the 500k buyer @24c has either been taken out, or has quit the scene.

    Originally, this particular buyer had been sitting things out patiently for ~2 months.

    Now, the highest remaining bid is 100k @23c.

    Having previously quit the stock @29c, and having not yet returned, I am concerned about the >25% drift in value from its late May peak of 32.5c, and in particular, its drift today (doen 1.5c) in a rising market.

    Whether the time is right to return will depend upon what, if anything, is being said about MSC for the moment.

    Has anyone else heard anything out there?

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