Missing something big, @LouK. It’s almost certain due to the massive discount that when Canaccord started shopping PLL’s block, the only interest was from short positions looking to cover and return the shares they’d borrowed. Hence they could demand an >18% discount, there were no other serious (long) buyers. There is no cornerstone investor hoping to make a return on their $60M. The horrible price action since then reiterates that.
Proof? Exactly the same thing happened to LTR when ALB pulled their offer and LTR had to do an emergency raise at a massive discount (35%) in mid-October:
The LTR demand only came from shorters who used it to cover at a great price and then reopened their positions. The data shows this clear as day.
Missing something big, @LouK. It’s almost certain due to the...
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Last
3.4¢ |
Change
0.001(3.03%) |
Mkt cap ! $349.9M | |||
| Open | High | Low | Value | Volume |
| 3.3¢ | 3.5¢ | 3.3¢ | $1.368M | 40.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 44 | 13154629 | 3.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.4¢ | 636953 | 2 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| SYA (ASX) Chart |