I recalled last year, share price was pushed down to $11 towards September index rebalancing date which had a massive volume gone through. I expect today’s closing auction will have a massive volume as well, probably for short covering.
Short after last year’s push down, share price went up more than 100%. As we are going to receive USD$100m within next quarter, our cash reserve will be well above $300m. Aussie dollar is falling, we’ve already gained around $18m by falling Aussie dollar.
The stock market is a wild voting machine, imo.
NEU Price at posting:
$12.25 Sentiment: Buy Disclosure: Held
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