Aug. 4 at 5:46 PM
$CWGYF I regularly note that in the US market, Carnegie's share price is **highly** volume sensitive: spiking when volume is >1M and (usually) dropping when it is < 100k.
But the Australian market is not so lock step. July 24, peaked insanely high after days of strong volume. BUT, as the price plunged, volume remained in the 1M - 3M range. With Jul 28 being the largest drop combined with more than 3M shares traded.
The simple analysis is profit taking. The US market followed the price drop, but didn't give up shares.
I'm sure institutional investors and whales don't want to buy millions of shares at the peak price. And there is little cost to them to have patience. The broader economy is showing signs of strain. For the moment, cash is searching high and low for a safe hedge (note SpaceX - ouch!) and volatile nano-caps don't fit that bill.
Still waiting on the 6 MW array. BUT wave tech is growing, Carnegie is doing great work, and for now, it's very cheap.
https://reneweconomy.com.au/carnegie-begins-work-on-its-biggest-array-as-wave-energy-pioneer-edges-towards-commercial-viability/