This seems strange a $100m market cap and f the ATO have to pay them as they have not contested the decision than ELD gets $65m thats around 2/3rds of the 24c or 16 cents.
The only logic that I can read into it not moving at least 6 cents must be that the market discounted it into the sp - No way as its low was 22c so 24 could hardly have taken it into account. Or, and this is a strange one, that the market is already disillusioned with management so does not see any greater value in this share notwithstanding the significant cash it will receive.
To say that the market is imperfect is an option but I dont get it do you?
I expected 30c if ATO did not contest and 20c to 22c if it did. 24.5 WOW that's not even a blip in an upmarket day.
ato decision significant but market not buying
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Last
$8.53 |
Change
-0.010(0.12%) |
Mkt cap ! $1.348B | |||
| Open | High | Low | Value | Volume |
| $8.66 | $8.66 | $8.45 | $2.691M | 316.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 633 | $8.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.54 | 2102 | 1 |
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| Last trade - 16.10pm 04/11/2024 (20 minute delay) ? |
| ELD (ASX) Chart |