Institutions will short the stock because heavy capital is required to scale-up.
That heavy capital belongs to a few big players, therefore they have all of the power in negotiations due to the falling price of spod and the continued message being promoted by international brokers that there is an ongoing oversupply issue.
PLS needs the capital but don't want to relinquish control, therefore the other party will drive down the value of the stake that is for sale.
PLS will have two options.
Either Sell a stake at a low price to shore up capital or go it alone and postpone further stages.
I suspect that they will sell a stake that is between 75 and 90 cents.
I'm happy to be wrong!
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Last
$3.00 |
Change
0.050(1.69%) |
Mkt cap ! $9.034B | |||
| Open | High | Low | Value | Volume |
| $2.92 | $3.04 | $2.92 | $45.62M | 15.23M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 345887 | $2.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 35013 | 5 |
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| Last trade - 16.10pm 05/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |