Banter and General Comments, page-4762

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Facthunter

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25/03/19

13:21

Post #: 37873814
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Originally posted by asb83: ↑

To say the share price "would still remain above $3" if retailers had not sold is one of the most ridiculous things I've read on this forum - and I've read some ridiculous things. Retail holding was 18%. What is it now?

No one is saying GXY is in trouble. The company is making money. At the end of the day it's a resource stock and its fate is largely out of its hands. The price of lithium, including battery-grade lithium, has dropped substantially over the last 12 months. You can argue 'til the cows come home that electric cars are the future and demand is/will outweigh supply. However, the facts are the price of lithium has dropped and experts are saying pricing is going to remain "soft" at best in the short-term. GXY said early last year that supply was tight and forecasted pricing to remain robust. That hasn't eventuated. So why are people saying everything the company is predicting is actually going to happen?

I don't see it as "cheap" at current valuation. It's around fair value. I would consider "cheap" below $1.70. You haven't seen any new institutions on the registry for ages. If this was such a bargain, why aren't institutions lapping up shares like a pig at a trough? If it was too good to be true, you would expect a few institutions to be pouring money into it? Not one though.

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they are pouring money into selling the price down

GXY Price at posting: $1.94 Sentiment: None Disclosure: Held
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Banter and General Comments, page-4762

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