Its low trading volume days like today and yesterday where BG's shares are not being offloaded, that i would expect to see the RAC SP climb 10c or more (3%), but this isn't happening.
This shows three things:
1. There are SH's who are offloading SPP shares for a quick 10% profit (very low volumes)
2. There are no new SH's interested in buying RAC shares at this stage, better opportunities elsewhere on the ASX
3. RAC is a stock that needs positive news for the SP to move upwards, SP doesn't increase without news
This is a bit of a concern especially when BG still has 6M shares to off load, as we have seen many good announcements over the last 9 months but SP has dropped from $4 to $3.30
With this pattern I can see the SP still being at this level in 4 months time, why wouldn't current holders invest their RAC money in lithium stocks - which are outperforming the market at the moment, then come back in May?
Is there a FOMO in RAC over the next 4 months?
RAC - Charts & Price Action, page-10221
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Last
$1.58 |
Change
0.055(3.62%) |
Mkt cap ! $268.4M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.61 | $1.56 | $106.0K | 67.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 649 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 3000 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RAC (ASX) Chart |