Yep, those who are saying anything under $3 is a "steal" were probably saying the same thing when it went under $4 and will be saying the same thing if/when it goes sub $2. One day they will be right.
You know something is wrong when holders have to use crazy explanations to justify a company's valuation. The best one was that it was deserving of a PE multiple of 20+ because, well, the worldwide resource sector as a whole supposedly trades on that kind of multiple. They fail to realise that this figure is inflated by a lot of companies that are pre-revenue/profit and massively dilute a figure such as PE.
In terms of the chart, the next support level is around $2.60.
PLS chart, page-22619
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Last
$2.94 |
Change
-0.065(2.17%) |
Mkt cap ! $8.808B | |||
| Open | High | Low | Value | Volume |
| $2.95 | $2.98 | $2.92 | $10.91M | 3.706M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 88297 | $2.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.94 | 188752 | 20 |
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| Last trade - 10.50am 09/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |