PEN is lagging so much behind its peers even though it is probably the closest to production. The 7.5c placement and subsequent options at 10c strike is going to be a large drag. Obviously one positive is they get $40 m if all options are exercised.
But it’s a catch 22. I don’t see the SP breaking out of this malaise for a while yet. Seen to be stuck in the 10-12 c range with random shots to 14c. Large glut of offers between 12-17c. If it happens to break out of 17c then maybe a chance to run. It’s in the draw until back Half of this year.
PEN is lagging so much behind its peers even though it is...
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Last
12.0¢ |
Change
0.005(4.35%) |
Mkt cap ! $334.0M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.0¢ | 11.0¢ | $2.210M | 19.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 381000 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 7133047 | 87 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
11.5¢ |
Change
0.005 ( 2.77 %) |
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| Open | High | Low | Volume | ||
| 11.3¢ | 12.0¢ | 11.3¢ | 10183368 | ||
| Last updated 15.52pm 30/05/2024 ? | |||||
| PEN (ASX) Chart |