Aqua Bounty - told you so!
AIM quoted Aqua Bounty Technologies Inc, a biotechnology company that develops products to manage health and increase productivity in the aquaculture sector, today issued a positive statement in response to the recent dramatic fall in its share price.
The group confirmed that it is not aware of any operational reason for the fall in price and reaffirmed that the expectations contained in the trading update issued on 9 March 2007 remained valid.
As we pointed out in our note on 29th March, with the shares having cut in half for the simple reason that one poor soul was over stretched, there was a massive opportunity for smaller retail investors to benefit. With the shares having risen over 20% since then we appear to have been proved correct!
Since management confirmed on 9th March (only 20 days earlier) that the Company had cash and investments totalling more than US$22 million (equivalent to the market cap of the company at the time) and negligible debt, it looked a bit of an obvious trade to us!
The group confirmed that it is not aware of any operational reason for the fall in price and reaffirmed that the expectations contained in the trading update issued on 9 March 2007 remained valid.
As we pointed out in our note on 29th March, with the shares having cut in half for the simple reason that one poor soul was over stretched, there was a massive opportunity for smaller retail investors to benefit. With the shares having risen over 20% since then we appear to have been proved correct!
Since management confirmed on 9th March (only 20 days earlier) that the Company had cash and investments totalling more than US$22 million (equivalent to the market cap of the company at the time) and negligible debt, it looked a bit of an obvious trade to us!
hard work | Posted: 8:52 pm