I thought the same. i.e. someone plugged the results into their model and didn't like the results.
But the rapid sell-down (on open) and heavy bot actions might indicate otherwise.
You'd think it would take longer for a large holder to update their reserves models and then decide to sell. Also, the data released was limited.
It looks to me more like a coordinated sell-down. Everyone knew Strike would be releasing their SE3 results prior to the TPD vote, and it might've been someone's strategy to spoil the party.
I also note that despite the series of great announcements we've had the past few months, there is always someone willing to sell and keep it around that 40-cent mark.
Perhaps someone is hoping a 60 cents offer (50% premium) might get it done.
I also note the clock may be ticking on a change to WA's gas reservation policy.
So, after the SOA vote it behind us, we might see a move sooner rather than later.
It's pure speculation by me, but it seems a lot of well-credential people, including STX, are a little bit bemused by today's price action.
I cannot see how today's announcement (of another drilling success) can be construed as negative. 'Neutral' (or priced-in) maybe, but not negative.
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Last
17.5¢ |
Change
-0.005(2.78%) |
Mkt cap ! $501.4M |
Open | High | Low | Value | Volume |
18.0¢ | 18.0¢ | 17.0¢ | $1.170M | 6.732M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
37 | 1634397 | 17.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.5¢ | 617607 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
26 | 1301638 | 0.170 |
27 | 1375228 | 0.165 |
31 | 1191293 | 0.160 |
12 | 257459 | 0.155 |
24 | 445780 | 0.150 |
Price($) | Vol. | No. |
---|---|---|
0.175 | 575756 | 6 |
0.180 | 520964 | 8 |
0.185 | 378030 | 5 |
0.190 | 1034216 | 12 |
0.195 | 733244 | 9 |
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