the price action here is kind of blowing my mind.
Commsec dominating the selling of ARL and buying of CLQ lends some support to the idea we are seeing a complete misunderstanding that ARL is in fact ~ 6-7x undervalued to CLQ (if we assume they are primarily valued on their N/Co deposits, and those deposits are give or take equals).
I know this sounds ridiculous but I see this on HC threads all the time - punters like buying stocks that are cheap in raw $ terms, ignoring market cap. This also helps explains the herd action at AUZ from retail IMO.
The other factor seems to be concern over financing, noting COB has had a nice green bounce after telling the market finance won't be a problem. I note CLQ did this in an AFR article, but I don't think they did a release to market on this.
If all this is true, we either need CLQ to start climbing again, or some specific announcements from ARL around financing, offtake and/or such compelling economics from scoping on 2.25Mt option, that the institutions twig and buy hard... all IMO. GLTAH. Trying times...
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Last
49.0¢ |
Change
0.020(4.26%) |
Mkt cap ! $93.85M |
Open | High | Low | Value | Volume |
48.5¢ | 49.0¢ | 48.5¢ | $4.088K | 8.418K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 2620 | 48.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.0¢ | 7902 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 2620 | 0.480 |
1 | 1500 | 0.475 |
2 | 6300 | 0.470 |
2 | 11869 | 0.460 |
3 | 30513 | 0.455 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 7902 | 4 |
0.495 | 1500 | 1 |
0.500 | 19550 | 3 |
0.520 | 14166 | 2 |
0.540 | 50950 | 1 |
Last trade - 10.03am 08/07/2024 (20 minute delay) ? |
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ARL (ASX) Chart |