The instos have full control here! I was annoyed with the boards decision of more Cu exposure, and racking up debt to make it happen because I knew these sharemarket 'records' and AI 'booms' were false and misleading and destined for a reversal at some point. Especially with the rise of BRICS and their goal of countering US global dominance. More gold exposure by the EVN board would have been the smart move in recent years IMO!
However, I am now hesitant to say that the EVN share price issues are to do with being further exposed to Cu which has been in freefall. This argument is affected by all the major dominant gold producers, (many 100% exposed to gold) also having their own share price struggles and challenges.
It comes down to institutional manipulation IMO. I agree, totally weird to see gold absolutely roaring and destined to test $3000usd at some stage soon (and much higher AUD prices too) Imo, yet the Aussie gold producers are much lower than they were in 2020. A very strange situation playing out. We all await normality to return, hopefully soon!
Although, the question must be asked, are the institutional forces now too powerful to let normality return? Especially with the retail cost-of-living crisis and less liquidity arriving to counter their manipulation tactics!
The instos have full control here! I was annoyed with the boards...
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Last
$4.01 |
Change
0.080(2.04%) |
Mkt cap ! $7.963B | |||
| Open | High | Low | Value | Volume |
| $3.99 | $4.02 | $3.95 | $27.17M | 6.798M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 25000 | $4.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.01 | 56076 | 6 |
View Market Depth
| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| EVN (ASX) Chart |