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.
Let's try to un-pack this Clayton's Auction.Personally I think...
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Last
$2.95 |
Change
-0.050(1.67%) |
Mkt cap ! $8.863B | |||
| Open | High | Low | Value | Volume |
| $3.01 | $3.02 | $2.93 | $23.08M | 7.813M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 100 | 524636 | $2.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.95 | 175174 | 60 |
View Market Depth
| Last trade - 14.49pm 08/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |