Wish it were that simple.
If MVNT were to publish its business plan going forward, that would help. For example, we know that MVNT (along with 2 other "partners") has signed a $10M plus contract with PEMEX. But how much of that $10M will go to MVNT? And how much profit will MVNT realize from those revenues? Also, are they looking at months or years before the next contract is signed?
Answers to at least some of those questions would go a long way in helping to calculate a growth rate for MVNT, which in turn would help in estimating a fair value for MVNT shares.
Even without any answers, just holding MVNT shares through the extremely wide intraday price swings, will not be easy or comfortable to watch. And who knows when the current uptrend might end?
A quick look at the 1-year daily chart clearly shows the current uptrend. In fact, MVNT has just recently established a new 52-week high of $.0188. This is significantly above the previous 52-week high of $.0165 back in August and September of 2022.
In summary, although the current uptrend seems well-established. Trading volume has remained quite low. Last week's daily average volume was about 80,000 shares. Over the past month, average daily volume was about 290,000 shares. Even over the past year, average daily volume has been a mere 256,000 shares. I really don't see how MVNT is going to breakout over any significant resistance without a much higher trading volume.
Anyway, I don't want to be too negative as I think that overall, the recent contract with PEMEX is extremely positive and important to its future. I just wish we could see a bit more trading volume to keep the current uptrend intact and perhaps to reduce the sometimes large intraday price swings.
All in all, I'm very bullish right now on MVNT and am wishing the best to all the long-time longs here as well as any new holders of MVNT shares.
Bullish
News 
Market Data 
Discover 
