Let's try to un-pack this Clayton's Auction.
Personally I think this has backfired on PLS.
The auction was supposed to be transparent to establish a market price.
Which, by accepting an offer, is clearly not market forces at work.
That's if there was a bid?
This supposed Cotango, is just smoke and mirrors.
Auctioning a product that does not exist and not available for another 6-8 months...
Really guys, have you thought this through, it seems to be a late night thought bubble that did not bust in the laser light of morning rationalism.
No more BMX Auctions this year: clearly you have no spare product to Auction.
Is it any surprise that the CCP immediately spanked the Li futures price: not to me.
All you have succeeded in achieving is giving the Shorters a massive free kick, when, presumably, the opposite was the desired outcome?
The only positive i can find in this catastrophe is that PLS is running at capacity with no spare product.
Whilst I'm still a believer and buying on weakness, I don't think this has been your finest hour.
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Last
$3.13 |
Change
-0.025(0.79%) |
Mkt cap ! $9.450B |
Open | High | Low | Value | Volume |
$3.11 | $3.17 | $3.07 | $58.85M | 18.86M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 151049 | $3.12 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.13 | 199547 | 30 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
39 | 294520 | 3.100 |
50 | 369872 | 3.090 |
58 | 428569 | 3.080 |
53 | 413988 | 3.070 |
47 | 430233 | 3.060 |
Price($) | Vol. | No. |
---|---|---|
3.110 | 463255 | 40 |
3.120 | 241206 | 27 |
3.130 | 328972 | 17 |
3.140 | 264368 | 20 |
3.150 | 318794 | 23 |
Last trade - 13.34pm 26/06/2024 (20 minute delay) ? |
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