8888
Me is long STO but not confident in the next 6 months ....
The share price has been pushed low (below relative peer performance) as the retail bookbuild participants have decide how many they are willing to buy at (say) $3.75 in the bookbuild. To give them a decent return for a months risk (say 8%), they would have needed to short at no lower than about $4.00 per share. This is what they have done, keep the price about $4.
If the bookbuild price is above $3.85 then the shorters profit will be eaten into.
They could be wrong of course, but I doubt that the retail shortfall will be less than 40% and therefore the shorters/underwriters should be feeling pretty comfortable now.
The next issue is whether the shortfall is more than 40%. If so, then there will be an overhang in the market & subdue any price growth in the short/medium term.
All IMHO
What happened at close?, page-37
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Last
$6.92 |
Change
0.040(0.58%) |
Mkt cap ! $22.47B | |||
| Open | High | Low | Value | Volume |
| $6.92 | $6.93 | $6.84 | $41.01M | 5.946M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 25681 | $6.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.92 | 50135 | 6 |
View Market Depth
| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| STO (ASX) Chart |