Let's try to un-pack this Clayton's Auction.
Personally I think this has backfired on PLS.
The auction was supposed to be transparent to establish a market price.
Which, by accepting an offer, is clearly not market forces at work.
That's if there was a bid?
This supposed Cotango, is just smoke and mirrors.
Auctioning a product that does not exist and not available for another 6-8 months...
Really guys, have you thought this through, it seems to be a late night thought bubble that did not bust in the laser light of morning rationalism.
No more BMX Auctions this year: clearly you have no spare product to Auction.
Is it any surprise that the CCP immediately spanked the Li futures price: not to me.
All you have succeeded in achieving is giving the Shorters a massive free kick, when, presumably, the opposite was the desired outcome?
The only positive i can find in this catastrophe is that PLS is running at capacity with no spare product.
Whilst I'm still a believer and buying on weakness, I don't think this has been your finest hour.
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$3.04 |
Change
0.070(2.36%) |
Mkt cap ! $9.119B |
Open | High | Low | Value | Volume |
$2.96 | $3.07 | $2.93 | $35.77M | 11.91M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
34 | 109185 | $3.03 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.04 | 48744 | 16 |
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No. | Vol. | Price($) |
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8 | 20179 | 3.040 |
40 | 162350 | 3.030 |
15 | 185726 | 3.020 |
16 | 176486 | 3.010 |
28 | 329443 | 3.000 |
Price($) | Vol. | No. |
---|---|---|
3.050 | 275786 | 25 |
3.060 | 588884 | 37 |
3.070 | 375143 | 32 |
3.080 | 189482 | 21 |
3.090 | 309585 | 15 |
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