It is not manipulation. PLS only got as high as $5.60 when spot spodumene prices went over US$8000/t. Now spot prices are less than 1/10th of what it was when the share price was $5.60. If anything, logic should tell you that the share price is manipulated to trade higher than one would have expected.
I bought PLS in 2022 around $2-$2.54 when spot spodumene concentrate was about US$4000/t. That made sense to me. Paying $2.60-$3 now with SC6 close to US$700/t just doesn't make sense to me. It probably doesn't make sense to others to buy PLS now either.
Commodities are unpredictable. It can catch you on the wrong end of a trade very easily.
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Last
$2.85 |
Change
-0.150(5.00%) |
Mkt cap ! $8.582B | |||
| Open | High | Low | Value | Volume |
| $2.95 | $2.98 | $2.83 | $92.31M | 32.06M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 46000 | $2.85 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.86 | 89829 | 11 |
View Market Depth
| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |