apart from shorting, the issues I see seems to be that you can't sell something for less than you produce it and expect to stay in business for very long. heading towards a price of $40 per pound they can't be making much if anything. the price has dropped 25% is a fairly short time and no recovery in sight.
no idea what their debt convenants are but i'd be surprised if there wasn't a market cap clause in there some place and that must be getting tested.
so asset sales or a capital raising or both are probably on the agenda.
no wonder the shorters are in there. merrill lynch analyst that had them at a value of $2.70 must be looking for some place to hide.
i have been watching and waiting for opportunity to buy into this stock but there is no way I'd be touching it given all of the above.
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Last
$11.34 |
Change
-0.440(3.74%) |
Mkt cap ! $3.390B |
Open | High | Low | Value | Volume |
$11.39 | $11.56 | $11.31 | $36.85M | 3.234M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3200 | $11.33 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$11.40 | 1054 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3200 | 11.330 |
3 | 12029 | 11.320 |
4 | 10599 | 11.310 |
8 | 18440 | 11.300 |
3 | 11993 | 11.290 |
Price($) | Vol. | No. |
---|---|---|
11.400 | 1054 | 2 |
11.410 | 300 | 1 |
11.420 | 2006 | 2 |
11.430 | 7793 | 1 |
11.450 | 24157 | 2 |
Last trade - 16.10pm 25/07/2024 (20 minute delay) ? |
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