That won't work with RAC as it's too illiquid. If you sell 200k shares, the price will drop to $1.07 for the last parcels at the moment. To buy them back, you will be paying over $2 for the last parcels and end up 60k shares short.
Traders won't be trading RAC as it's too illiquid, and the risk of being stuck with a position is too great. Any one seller can reduce the price. Any one buyer can raise the price. But anyone trying to take a position will have to do so over a very long time, or they will be paying too much. Anyone wanting to exit a position will not be able to unwind it quickly without driving the price too low.
I am sure any holders that wanted out would have taken advantage of the share buy back to exit at a higher price due to the above, for example.
For 100k shares to buy a lambo (not considering tax or dilution from options) RAC only needs a market cap of $aud 6.3 billion. Were lambos things those smelly crypto folk use to buy? Surely a Bentley sport convertible would be more appropriate for a biotech holder? : )
General Comments / Chat, page-10828
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Last
$1.79 |
Change
-0.075(4.02%) |
Mkt cap ! $304.8M | |||
| Open | High | Low | Value | Volume |
| $1.86 | $1.86 | $1.76 | $348.2K | 192.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5612 | $1.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.79 | 3567 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
$1.78 |
Change
-0.075 ( 5.38 %) |
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| Open | High | Low | Volume | ||
| $1.81 | $1.86 | $1.76 | 27553 | ||
| Last updated 15.55pm 14/06/2024 ? | |||||
| RAC (ASX) Chart |