The stock was included in the ASX300 index in March 2024.
Index hugger funds will need to get the appropriate market weighting to track the index return.
It may well have been permissible to remain somewhat underweight in the early days of inclusion, given the company stated their delay to put before the FDA, but as this time frame erodes, the risk to the upside if they present sooner is likely a risk that index huggers would be looking to avoid, and hence, ensure they carry the appropriate weighting.
I think this more likely to explain the rallies on reasonable volume seen recently.
The stock was included in the ASX300 index in March 2024.Index...
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Last
88.0¢ |
Change
0.055(6.67%) |
Mkt cap ! $320.3M | |||
| Open | High | Low | Value | Volume |
| 82.0¢ | 88.0¢ | 82.0¢ | $1.733M | 2.081M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9824 | 86.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 88.0¢ | 32650 | 4 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| EBR (ASX) Chart |