About 8.5% of LYC has been traded over the last 4 days.
That is quite a significant amount of shares and has an estimated value of $237m.
Only someone with deep pockets together with a predetermined plan would be catching a falling knife like we are seeing. It is certainly not a few traders/ investor on HC, so who is it?
JPM has a valuation of $1.70 prior to Mondays 15% approx basket price increase, and evidence clearly points to REE's being in high demand together with a supply short fall for at least six years or so. LYC's management are on record as saying that China could soon be a net importer which tells us that price increases of REE's will continue to be the norm.
LYC is in the box seat to reap bonanza profits over the next several years at least, which makes a compelling argument as to the company being a takeover target imo.
Hence my earlier question "who is buying such large volumes of shares when the share is falling so hard"
8.5% of lyc trade last 4 days unusual
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Last
$6.56 |
Change
0.050(0.77%) |
Mkt cap ! $6.131B | |||
| Open | High | Low | Value | Volume |
| $6.51 | $6.59 | $6.49 | $8.348M | 1.273M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 16304 | $6.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.56 | 2708 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |