You’re assuming the ’big end of town’ bought at 18c to go long. The data (and logic) suggests they used the big capital raise in May 2023 to close their short positions - buying back the shares they’d borrowed/sold, bank their profits, and then open new positions to ride it down again. That’s what smart money does when a mining company is struggling with costs and the underlying commodity is sinking.
It’s unfortunate for longs, but that’s what makes a market. Ironically it can be the short sellers who provide the liquidity for a struggling company like SYA to raise large amounts of cash. Without them eager to buy into the raise and close their positions, there may not be too many longs who want to keep throwing money at a cash oven.
- Forums
- ASX - By Stock
- General Discussion Topics
You’re assuming the ’big end of town’ bought at 18c to go long....
-
-
- There are more pages in this discussion • 16,488 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SYA (ASX) to my watchlist
(20min delay)
|
|||||
Last
3.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $360.2M |
Open | High | Low | Value | Volume |
3.5¢ | 3.6¢ | 3.4¢ | $716.1K | 20.41M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 8111041 | 3.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.6¢ | 12582608 | 29 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 7161525 | 0.035 |
23 | 11001761 | 0.034 |
42 | 13399817 | 0.033 |
63 | 9115798 | 0.032 |
31 | 8154489 | 0.031 |
Price($) | Vol. | No. |
---|---|---|
0.036 | 12105177 | 25 |
0.037 | 12422795 | 38 |
0.038 | 15771088 | 31 |
0.039 | 9230259 | 26 |
0.040 | 6810721 | 37 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
Featured News
SYA (ASX) Chart |