G'day Suw. Massive damage was done before and after LKE was "promoted" to the ASX200. Some, insurmountable, maybe self inflicted, with over $2 billion having been, first created (BY Fund Managers and banks) and then, that over $2 billion crash in the company's listed "value", primarily by the shorters, the SP dump and that shockingly incorrect story by GS (IMO, precipitated by the fact of LKE being in the ASX200). Had that "logical" rise in the SP, as you so very well defined, and not being so blatantly affected by that ASX200 surge by the Fund Managers, we would not have even seen both "CRAP" stories and everything that supported the shorters.
Question, would there have been any reason to short when the SP was gradually progressing @ $1.30??
That "inflated" price also gave S.P. a MASSIVE incentive to dump his shares, apart from pure angst, and actually brought the price back to where is "should" have been before the "ASX 200" factor created that inflated price.
Sure, I definitely agree that at least $1 of the ATH was totally unsustainable, at THAT time, (the ASX200 factor). But, the fundamentals, as you have so succintly and logically posted several times, "should" still see the SP closing in on $2 NOW. and with what is still logically anticipated, heading back to it's ATH.
Doesn't alter my view whatsoever that a non producer, non dividend payer, should be part of Australia's PRIME investment platform, the ASX200. Maybe, from 2024, but, until then, it's still speculative, a punters stock (and still a rich source of ammunition for the naysayers who dominate this forum and that alone tells you so much!!!).
But, now that LKE is in ASX200, would S&P and the ASX remove them, thus, potentially causing another major market disruption? Let's see.
But, IMO, NOTHING has changed my view in fully supporting the "logical" SP time frame as you have very logically espoused. Very much looking forward to your next appraisal (hopefully, without shorters and S&P intervention).
Expand
