Interesting discussion. This is the domino effect of the SE2/3 failures playing out. It's a genuine pivot point for STX as the market wants to bet on a CR but Stu hasn't hedged, he is on the public record as stating no CR.
Could there still be a CR?
Yes, but only if two things happen IMO
W7 doesn't flow to the extent MAQ want to refresh our debt, or
STX has lost the support of Macquarie full stop.
The latter seems inconceivable as despite Stu being known for occasionally dishing out the mayo, this would be next level, career ending stuff IMO.
I don't see a scenario where STX would elect to do a CR where debt was available (morning Colby if you happen to read this)
Until W7, and the MAQ position is clear, growth in the SP is going to be difficult. Let's hope Friday delivers a stay of execution on ASX200.
JMO.
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