I beleive there are 2 issues at play..but i stress it is my opinion only. 1 is whether or not LYC can meet the conditions to satisfy the drawdown of funds. LYC say they are confident they will do this before the deadline and have already satisfied one of the bigger clauses - and I see no reason to doubt them.
The other is the seller. I suspect its JPM, so how much more of its holding does it need to sell? They had 45M shares...15m went on Xmas eve. If they need to sell more and LYC are ok to meet the conditions of the drawdown - there will be bargains to be had. There could be further pressure on the price this week. If huge volumes go on the open tomorrow - will confirm my belief its JPM - and I'll sit and wait for a lower price.
Alternatively - price could kick early while JPM wait for better "odds" before cashing in again. Then again - if I'm right - they were happy/desparate/sad enough to cop 14c a share. Very interesting. I'm watching and will be buying.
Regards
GH
I beleive there are 2 issues at play..but i stress it is my...
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Last
$5.93 |
Change
-0.020(0.34%) |
Mkt cap ! $5.542B | |||
| Open | High | Low | Value | Volume |
| $6.04 | $6.04 | $5.93 | $23.75M | 3.975M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 128544 | $5.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.95 | 12481 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| LYC (ASX) Chart |