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
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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. |
---|---|---|
$6.92 | 50135 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 25681 | 6.900 |
3 | 48461 | 6.890 |
4 | 62572 | 6.880 |
8 | 89137 | 6.870 |
4 | 53735 | 6.860 |
Price($) | Vol. | No. |
---|---|---|
6.920 | 49402 | 5 |
6.930 | 45495 | 2 |
6.940 | 54488 | 5 |
6.950 | 15766 | 5 |
6.960 | 5406 | 1 |
Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
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