I guess the effect would be the similar as tree shake on companies with strong fundamentals. After initial drop they should start finding buyers.
No, market didn't react like this on news of 57 previous new strains. It's because news of new strain is just a catalyst of what's been going on for 2 weeks:
Central banks policies are capitulating from increasing inflationary pressure, wage inflation is creeping up, Countries are going back into lock downs.
Over the last couple of weeks the stock rallies have been sold into en masse, rotation from risk to safety assets, etc
That's what usually happens: the underlying pressures build and then market sells off on some not very significant news/event.
PLS chart, page-4044
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Last
$2.98 |
Change
0.070(2.41%) |
Mkt cap ! $8.942B | |||
| Open | High | Low | Value | Volume |
| $2.96 | $2.98 | $2.93 | $31.13M | 10.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 47 | 262300 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.98 | 286041 | 39 |
View Market Depth
| Last trade - 13.49pm 30/08/2024 (20 minute delay) ? |
| PLS (ASX) Chart |