Nothing goes down in a straight line. As long as the price of spod remains below $1k/t for SC6.0, PLS will eventually go below $2. A company's valuation will always catch up to fundamentals. Whether that's next month or next year, I don't know. Why it hasn't got there yet is anyone's guess.
There's a subset of the market who believe the price of spod will rebound. They're most likely the ones propping up the price at the moment. You can only keep propping the price up for so long. Eventually fundamentals will win. As the saying goes, "in the short run, the market is a voting machine but in the long run, it is a weighing machine". Sooner or later the weight of fundamentals will be too great and the share price will reflect the underlying fundamentals.
Spot price carbonate just hit a new multi-year low today. Spod will naturally follow this.
You might want to explain why you were buying around $4? Explain your rationale and your valuation of PLS.
PLS chart, page-22608
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Last
$2.98 |
Change
-0.030(1.00%) |
Mkt cap ! $8.974B | |||
| Open | High | Low | Value | Volume |
| $3.00 | $3.11 | $2.97 | $82.16M | 27.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 65571 | $2.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.99 | 7500 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |