Rather than explain the logic, I can provide an alternative perspective.
Below is the 6 month chart comparison of ACAD and NEU. ACAD is the bottom line.
Note that ACAD fell significantly following the release of Q1 2023 results at the end of February and then suffered further decline following the release of Q1 2024 results on 9 May.
Looking more broadly, the NASDAQ US biotech index has increased ~10% this month and the NASDAQ US small cap biotech index ~ 16% over the same period. This compares with a ~5% increase in the ASX 200 Pharma and Biotech index over the same period.
Something else to keep in mind is that, over the month to mid-July, shorts on ACAD declined by 1.3 million shares.
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Rather than explain the logic, I can provide an alternative...
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Last
$19.86 |
Change
-0.310(1.54%) |
Mkt cap ! $2.538B |
Open | High | Low | Value | Volume |
$20.45 | $20.45 | $19.74 | $4.663M | 234.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 507 | $19.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.89 | 765 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 507 | 19.760 |
2 | 508 | 19.740 |
1 | 2244 | 19.730 |
1 | 765 | 19.710 |
4 | 1708 | 19.700 |
Price($) | Vol. | No. |
---|---|---|
19.890 | 765 | 1 |
19.930 | 765 | 1 |
19.960 | 765 | 1 |
20.000 | 807 | 2 |
20.100 | 24 | 1 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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NEU (ASX) Chart |