No, it's the market realising that money/cash is better off being invested in either (already) profit making companies or deposit accounts - Mostly the latter I would imagine atm.
Any ASX listed companies that aren't already paying, and won't continue to pay, at least 5% yield, are going to see their MC decimated until interest rates plummet. The RBA hasn't finished raising rates here.
You are going to see hundreds, if not thousands of ASX low & mid cap stocks, that rely on the market for liquidity, disappear over the next 18 months imo.
The blood letting is only just beginning..
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Mkt cap ! $61.99M |
Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Price($) | Vol. | No. |
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14 | 7315368 | 0.012 |
18 | 6076666 | 0.011 |
33 | 11819988 | 0.010 |
20 | 8186816 | 0.009 |
11 | 4782195 | 0.008 |
Price($) | Vol. | No. |
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0.014 | 5085500 | 10 |
0.015 | 5385848 | 8 |
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0.017 | 2800000 | 2 |
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