Under $55k of share traded has wiped off 6% or $10million from our market cap as I type.
I may have posted this before some time back - if so I apologise if I am repeating myself:
20 people own a house which the estate agents have valued realistically at $1 million.
Each of the 20 owners holds a 5% equal share of the house.
19 owners sit tight quite happy to let their 5% shares go up in value as the market strengthens.
1 owner is strapped for cash and manages to find someone to buy him out for $20k quickly as he needs the money.
The market does no more than look at the last sale/purchase transaction and concludes that if 5% is worth $20k - the house therefore is worth 20 x $20k = 400k.
Yet the houses on either side and in the next block are still valued at $1 million and a few which have been tarted up for sale are getting interest at $1.5 million.
Never a better example of the madness of market valuations.
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Last
20.0¢ |
Change
0.010(5.26%) |
Mkt cap ! $221.5M |
Open | High | Low | Value | Volume |
19.5¢ | 20.0¢ | 19.5¢ | $221.3K | 1.134M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 218150 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 1148645 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 218150 | 0.195 |
5 | 283597 | 0.190 |
2 | 550000 | 0.185 |
4 | 522000 | 0.180 |
1 | 250000 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 1148645 | 8 |
0.205 | 364274 | 7 |
0.210 | 594560 | 10 |
0.215 | 1320543 | 7 |
0.220 | 894164 | 7 |
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