I agree. These prices are completely insane, with the company trading at a lower market cap than before the deal. Even a bear can't really spin this deal as a bad thing, it took the company out of speculation that one day a deal may occur and this gets mined into "it's moving forward".
I think the most rational explanation is that in the current macro environment people are desperately selling down positions in stocks, cars and other assets in order to pay their mortgages. Speculative investments get hit the hardest.
This is a multi-year play, but I have very high conviction that over that timeframe it will outperform dramatically. My opinion at least. Would love to hear others.
ARL chart, page-3842
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Last
37.5¢ |
Change
-0.025(6.25%) |
Mkt cap ! $74.88M | |||
| Open | High | Low | Value | Volume |
| 39.5¢ | 40.0¢ | 37.5¢ | $50.49K | 129.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14286 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 1729 | 1 |
View Market Depth
| Last trade - 15.26pm 04/10/2024 (20 minute delay) ? |
| ARL (ASX) Chart |