jn
I ask in good faith because I'm obviously missing the 'penny dropping' on the issue. LYC for simple maths we will say 1.7b@$2 for 3.4b MC.
If LYC paid premium and bought back 1b shares@$3 would the 700m left not drop the MC to $2.1b? For it to still be $3.4b would mean the $3 buy back was a ripp off because the SP would have to go up to $4.85 to equal the original cap. If the share price did go to $4.85 to up the market cap why can't it do that with 1.7b issued shares, not because the volume decreased. Is it a supply/demand issue, rarer share. If so, something rare can be worthless if it has no appeal.
I gather AVL has approx 90m shares to give a MC of $700m. Maybe it's only worth $2 also and MC of $180m.
I thought it was based on the value of a share(being the company) and then x no of shares, regardless. Meaning, if people were willing to pay $8 for LYC our MC jumps to 12.8b, a big ask, but just for example purposes.
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Last
$6.27 |
Change
-0.020(0.32%) |
Mkt cap ! $5.865B |
Open | High | Low | Value | Volume |
$6.29 | $6.30 | $6.26 | $3.565M | 567.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
18 | 8793 | $6.27 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.28 | 9857 | 38 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 7581 | 6.270 |
15 | 20202 | 6.260 |
18 | 48030 | 6.250 |
9 | 7337 | 6.240 |
11 | 27926 | 6.230 |
Price($) | Vol. | No. |
---|---|---|
6.280 | 9033 | 34 |
6.290 | 21030 | 26 |
6.300 | 50090 | 20 |
6.310 | 15546 | 10 |
6.320 | 23005 | 10 |
Last trade - 11.19am 18/07/2024 (20 minute delay) ? |
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LYC (ASX) Chart |