In regards to a 99% retrace, yes it happened in the past.
Would it happen again today? I doubt it, the company is entirely different.
If it were to go back to $0.11 whilst maintaining the same level of profitability, net assets and share structure you bet I would buy it.
Will it go back there? In the current form I don't think so, once again for the same level of profitability, net assets and share structure.
Am I buying new shares currently? Absolutely not, my average buy price is $1.885.
Is the company overvalued? Yes it is some financial ratios are just too high.
To what SP will it retrace back? I don't know
My view is that at some point as the profit goes up, the SP will go down andthey will meet up at a point where the PE ratio will be more reasonable.
Will I be right or wrong? Time and the SP will tell
In regards to a 99% retrace, yes it happened in the past.Would...
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Last
$6.34 |
Change
0.210(3.43%) |
Mkt cap ! $5.926B | |||
| Open | High | Low | Value | Volume |
| $6.23 | $6.37 | $6.20 | $16.32M | 2.584M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 10131 | $6.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.34 | 65301 | 3 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |