All this negativity about Malaysia, Lynas management etc while understood as being a release of frustrations does not really achieve very much, other than to give the shorters further scope to push the price down as people begin to question their holdings ie. loose fruit syndrome.
I'm convinced that if the share price was going up, even at a slow rate, there would not be this degree of criticism.
If it wasn't for the fact that shorts are representing over 25% of recent daily turnover, the price would be moving up.
As such, the events in Malaysia aren't the real problem, only the catalyst for those constantly shorting.
I recall Austar being another stock which everyone knew would be worth a guaranteed 50% more within months. ACCC rejected the Foxtel takeover,price dropped, but as it got closer to the ACCC review date the SP was moving up towards it's takeover target value......It moved up because there were no shorts of any substance to stop it, even though the final ACCC decision had not been made....By the time the decision did come through the SP was only 5% below the takeover premium , the market had priced in the anticipated decision.
This is all relevant because the same would have happened with Lynas, were there no shorts.....so THAT in a nutshell is why we are where we are, not due to Malaysia, China, NC, etc etc etc.
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Last
$7.34 |
Change
-0.260(3.42%) |
Mkt cap ! $6.860B |
Open | High | Low | Value | Volume |
$7.55 | $7.56 | $7.30 | $32.37M | 4.384M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 84497 | $7.34 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$7.35 | 23514 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 84497 | 7.340 |
1 | 2318 | 7.310 |
1 | 1720 | 7.290 |
5 | 15815 | 7.280 |
3 | 48516 | 7.270 |
Price($) | Vol. | No. |
---|---|---|
7.360 | 9683 | 1 |
7.370 | 9683 | 1 |
7.380 | 9683 | 1 |
7.400 | 9683 | 1 |
7.420 | 10955 | 2 |
Last trade - 16.10pm 14/11/2024 (20 minute delay) ? |
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LYC (ASX) Chart |