News flow from a number of companies

News flow from a number of companies

Monday was a bad day for many spec stocks with almost everything falling. In most cases it was a tick down rather than anything more dramatic, but it was right across the board. Was it because of a lack of buyers as we approach the Xmas shutdown? Was it because there have been just too many capital raisings that sucked out too much money, or was it because the market is just tiring of some of the themes that have been active for most of 2021? These could have all been contributing factors. Remember that unless new buying keeps popping up, a share price in any particular stock is destined to fall.

Nevertheless, the rest of the week saw a good recovery in share prices as most stocks recaptured earlier levels. The trouble is, many of the moves took the prices back to to resistance points. They need to pierce through these to reverse expectations that the next move could be another leg down. We are in a phase that will probably see further easing of a number of share prices.