RPM was downgraded significantly, and interest rates have risen (making it tougher for exploration businesses to fund themselves, and gives people more motivation to sell down shares to pay off debts/mortgages/cost of living).
Based on the volumes, I'm assuming the downgrade was on this date. I'll double check. Yes, seems right.
So the SP was at $0.45 before that. Then fell immediately to $0.30-0.35, and trended down.
I'm not sure what caused the fall from $0.70 to $0.45 prior to that. Possibly economic pressures, or shareholder boredom.
When RBA/FED were at 0.1%, I think that caused easy money and expansion of market multiples = higher SPs.
Now they're raising rates fast, so there's no more easy money, and thus multiples/SPs come down.
Inflation should drive markets up over time, but not in the short term. IRs have a larger effect over the short term.
So I see a reason for lots of people to sell down from $0.70 to $0.30. There's 2 significant causes, at least.
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Mkt cap ! $42.62M |
Open | High | Low | Value | Volume |
18.0¢ | 18.0¢ | 17.0¢ | $29.65K | 167.8K |
Buyers (Bids)
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---|---|---|
1 | 2500 | 16.5¢ |
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Price($) | Vol. | No. |
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18.0¢ | 21990 | 1 |
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4 | 101163 | 0.155 |
7 | 165467 | 0.150 |
3 | 141378 | 0.145 |
5 | 555000 | 0.140 |
Price($) | Vol. | No. |
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0.180 | 21990 | 1 |
0.190 | 26896 | 2 |
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