Rare Earth ETF plummets. Even after divvie, it's a complete overshoot of selling with ~9% drop overnight.
Add on top the financials of LYC that barely pulls in $200m revenue (yes revenue, not profit!) as a $9bn company, and we've got an EPIC recipe for disaster.
I feel bad for anyone here who thought LYC was some kind of Rare Earths global savior.. I hope you've enjoyed the story, it's carried you this far to an obscene $9bn market cap, but now reality is going to kick in hard and some are going to learn the painful lesson about understanding reality vs fantasy.
Today marks the end for LYC
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Last
$6.17 |
Change
-0.050(0.80%) |
Mkt cap ! $5.813B | |||
| Open | High | Low | Value | Volume |
| $6.12 | $6.21 | $6.10 | $1.248M | 202.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 5867 | $6.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.18 | 11123 | 14 |
View Market Depth
| Last trade - 10.28am 30/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |