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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Let's try to un-pack this Clayton's Auction.Personally I think...
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Last
$2.93 |
Change
0.140(5.02%) |
Mkt cap ! $8.819B |
Open | High | Low | Value | Volume |
$2.82 | $2.93 | $2.77 | $65.23M | 22.81M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3424 | $2.92 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.94 | 170199 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 3424 | 2.920 |
3 | 63131 | 2.890 |
5 | 452974 | 2.880 |
5 | 143010 | 2.870 |
4 | 99050 | 2.860 |
Price($) | Vol. | No. |
---|---|---|
2.940 | 170199 | 9 |
2.950 | 55937 | 9 |
2.960 | 5000 | 1 |
2.970 | 90000 | 4 |
2.980 | 194022 | 10 |
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