The market makers being the investment banks with massive market power have placed correctly that the lithium market was overdone and placed large bets that the market would fall - fair to say they have had a big part in engineering this capitulation.
I made a quick investigation of Goldman and Potters both have divergence in fair value for LIONTOWN GS value at $1.10 while Potters stick by $1.50 plus
The market makers moving the stock outside the top 100 understand that LTR no longer attracts investors from index funds which leaves the hedge funds as potential players.
computer trading is pretty sophisticated so any short covering will be well disguised looking at open shorts as a guide is tricky as shorts may not match out positions leaving the illusion that it’s still at X percent.
The part that isn’t disguised is volume so for any short covering to appear there needs to be a violent shift in daily volumes
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Last
81.0¢ |
Change
-0.015(1.82%) |
Mkt cap ! $1.964B |
Open | High | Low | Value | Volume |
81.5¢ | 82.0¢ | 77.5¢ | $15.36M | 19.24M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 37388 | 81.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
81.5¢ | 95789 | 12 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 37388 | 0.810 |
11 | 907893 | 0.805 |
10 | 1124432 | 0.800 |
5 | 81182 | 0.795 |
9 | 310321 | 0.790 |
Price($) | Vol. | No. |
---|---|---|
0.815 | 95789 | 12 |
0.820 | 117789 | 4 |
0.825 | 115943 | 9 |
0.830 | 83561 | 8 |
0.835 | 73250 | 4 |
Last trade - 16.10pm 01/11/2024 (20 minute delay) ? |
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LTR (ASX) Chart |