the price of 60+ cents 12 months ago was grossly inflated and not based on fundamentals; it was based on lithium hype. Similar phenomenon can be seen in AI with Brainchip's spectacular crash and of course the BNPL scene. Oh yeah, BitCoin.. the price was based on an expectation that:
a) AGY would meet their own projected production targets (which they haven't); and
b) lithium prices would remain at their record highs.
Neither of these things happened, so the hype is dead. I don't think they will return to 60+ without doing so the old fasioned way: fundamentals supporting that market cap (e.g. proven sales and growth).
The time to buy AGY was back when it hovered around 15 cents for 12 months and the time to sell was when it was about 70 cents.
Can it go lower than 10 cents? Absolutely. There is a graveyard filled with failed ASX companies worth nothing and plenty of 1 cent companies going that way.
I don't hold, I did. Watching for opportunity to re-enter but am waiting to see either a) or b) mentioned above materialise first.
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the price of 60+ cents 12 months ago was grossly inflated and...
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Last
9.2¢ |
Change
-0.001(1.08%) |
Mkt cap ! $133.9M | |||
| Open | High | Low | Value | Volume |
| 9.2¢ | 9.4¢ | 9.0¢ | $329.9K | 3.597M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 59325 | 9.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.4¢ | 73784 | 2 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
9.2¢ |
Change
-0.001 ( 1.08 %) |
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| Open | High | Low | Volume | ||
| 9.1¢ | 9.4¢ | 9.0¢ | 1081942 | ||
| Last updated 15.59pm 14/06/2024 ? | |||||
| AGY (ASX) Chart |