Viz Branz

[dydx]

While yesterday's (14Mar12) intra-day up-and-down price movement within a $0.125 range was indeed very sharp, it reflects the individual and overall actions by some participants - likely speculators. I suspect whoever buying big-time in the last few market-days (from 8Mar12) and pushing the price upwards, decided to stop his buying just before 1000 hours yesterday morning. As a result, from that point onwards those short-term 'long' speculators who followed the price up decided to bail out one after another - most of them who bought the day or 2 before should still have made some money - bringing the price spiralling downwards to close the day at $0.43, down $0.025 from the previous day's closing price at $0.455.

But the facts remain, (1) someone of substance started the buying on 8Mar (Thursday, last week) - the first 'XD' date - by buying most of the 1661 lots transacted mostly at $0.355 on the day, and (2) the active buying continued in the next 3 market-days (9Mar, 12Mar and 13Mar) and culminated on 13Mar, and on that day a massive 11.0m shares were crossed at $0.39 in one single-transaction. This perhaps had fired up the sharp price movement upwards all way to the intra-day high of $0.535 the next day (14Mar, yesterday), before the sharp price correction set in soon after 1000 hours.

Based on yesterday's closing price at $0.43, Viz Branz's market cap. now stands at $152.7m, and using $18.6m as a conservative estimate for this FY12's NP, Mr Market is now attaching a current-year PER of approx. 8.2x, which is quite modest.