"A stock doesnt normally drop 40 odd percent for no reason"
True, but the reason doesn't need to arise from the company itself, and if it hasn't been announced by now it has nothing to do with company progress or problems. AGYs SP was sitting pretty near ATH while others were already entering their orphan periods; China spot prices were coming down and Credit Suisse just ate the canvas after the US banking system showed early signs of another GFC. Others fell less than 40% in the same time because they'd already fallen. A 30m+ rebalance for the ASX300 and exposure to the same (and all of the institutional play that enabled) created a perfect storm. A quick rebound would have been nice but that's a naive hope at best. The retail end of the market is burnt, butthurt and facing higher mortgage repayments, so I wouldn't expect much from them. The big boys know that so there's no real rush for them to scoop up the bargains just yet.
It'll recover when it recovers but AGY is ramping up and has bags of BG carbonate sitting on shelves, unlike others, so the only reasons to sell are real life need or a taxable income so high that copping a loss will be 47% less painful. This needs time to wash through and that might be a week, a month or more, but stock is rolling off the line, proven beyond doubt, so it's all relative.
Not directed at you, Blue, but I wanted to address your point. I hope your cash goes to good use.
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Last
4.0¢ |
Change
-0.001(2.44%) |
Mkt cap ! $58.23M |
Open | High | Low | Value | Volume |
4.1¢ | 4.1¢ | 4.0¢ | $72.01K | 1.793M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 370632 | 4.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.1¢ | 226700 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 370632 | 0.040 |
11 | 1138204 | 0.039 |
11 | 1017089 | 0.038 |
12 | 1190095 | 0.037 |
10 | 1302435 | 0.036 |
Price($) | Vol. | No. |
---|---|---|
0.041 | 226700 | 4 |
0.042 | 749632 | 8 |
0.043 | 828966 | 6 |
0.044 | 1584000 | 6 |
0.045 | 180000 | 4 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
AGY (ASX) Chart |
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