Why on earth should the privce plunge ... that's silly talk!
No it's not! The only pricing mechanism in the market at this stage is the US$2.20bo that WPL has claimed to have paid for COP's 35%. Everything else is blue sky and in a bull market you're rewarded for blue sky but a bear market you get next to zero value. It is up to FAR management to make an announcement prior to market open tomorrow to prevent the possible carnage. The reason for price not rising is quite simple. There are no buyers out there for FAR shares! Shorts for FAR are at levels only seen on two other occasions in the last 2 years and we know what the share price has done over those 2 years. NOTHING!
FAR management can prevent said carnage especially noting that the CNE half yearly date has been known for weeks. Will they? Probably not if they have been blindsided by the low 2C.
Cairn Half Yearly highlights, page-32
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Last
49.5¢ |
Change
-0.010(1.98%) |
Mkt cap ! $45.74M | |||
| Open | High | Low | Value | Volume |
| 50.5¢ | 50.5¢ | 49.5¢ | $26.98K | 54.03K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20223 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 611 | 1 |
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| Last trade - 16.10pm 15/07/2024 (20 minute delay) ? |
| FAR (ASX) Chart |