Even if SE doesn't proceed as a standalone, it doesn't justify the current price actions. Price is a function of supply and demand at any given point in time, and there has obviously been a lot more selling than buying (a lot of which has been short sold). It is my speculation that they are shortselling STX on the thesis that STX will need to raise capital, at which time they can subscribe to cover their shorts. If and when the market no longer believe a CR is required, we may see some short covering. The current price definitely isn't justified based on fair valuation IMO.
618
Ann: 3Q FY24 Quarterly Report & Appendix 5B, page-74
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Last
22.5¢ |
Change
0.010(4.65%) |
Mkt cap ! $643.6M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 21.5¢ | $3.339M | 14.95M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 337869 | 22.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 1651352 | 24 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| STX (ASX) Chart |