LGL maybe a ASX 300 stock but in anyone's portfolio this would be considered a high risk stock. Those caught with 70% leveraged margin calls in the recent major correction have been forced to sell LGL to cover margin calls on lower risk more defensive stocks. As most super funds are restructuring their portfolios on behalf of highly leveraged clients LGL is quite simply being sold off. Also the HUI (Amex Gold Bugs Index) has also been in decline. Its movements are alway slightly in advance of the behavoir of the gold price. The declien in the HUI and LGL will come to an end. For those who hold, the decline should reverse pretty strongly. However, if you bought in at around a dollar you could sell and re - enter at a lower price taking profits. LGL is hardly an emerging producer with a small resource so I do not given golds sound fundamentals see its decline as any other than short term.
crushed by margin call sellers
Add LGL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.40 |
Change
-0.020(1.41%) |
Mkt cap ! $170.2M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.40 | $1.40 | $9.035K | 6.443K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20 | $1.39 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.41 | 2499 | 1 |
View Market Depth
| Last trade - 16.10pm 24/05/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.40 |
Change
-0.020 ( 1.63 %) |
||||
| Open | High | Low | Volume | ||
| $1.39 | $1.40 | $1.39 | 1102 | ||
| Last updated 11.43am 24/05/2024 ? | |||||
| LGL (ASX) Chart |