SYA 1.56% 3.3¢ sayona mining limited

I agree that SYA is fundamentally solid, though it's vulnerable...

  1. 728 Posts.
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    I agree that SYA is fundamentally solid, though it's vulnerable to dropping prices. "Hidden gem" might be an overstatement; "undervalued" seems more apt. However, any significant recovery, such as returning to 9 cents, seems unlikely soon given the only modest increases from the lows of lithium prices.

    Believe SYA even under current market conditions should be valued at least at 5 cents maybe 7.

    Nevertheless, the stock is largely controlled by market makers and trading bots, which pose a near insurmountable challenge for retail investors like us.

    I bought shares at 4.1 cents after the company decided to continue operations, expecting it could reach 5 cents in the upcoming months. On the day of purchase, I planned for a potential exit if the price dropped below 4 cents for more than two days. Unfortunately, the price did fall, leading me to sell half my shares at 3.8 cents (a 10% loss), and the rest at 3.3 cents (a 20% loss within two weeks)—a steeper loss than anticipated.

    Recent trading patterns suggest algorithmic trading strategies aimed at driving down SYA's price, benefiting short sellers and institutions that are accumulating at lower prices. Despite being burned, I remain interested in SYA, though it seems poised to drop to the 2-cent range.

    For long-term holders believing in SYA's potential, options include averaging down or exiting now to possibly re-enter at a lower price later. Keep in mind, market makers' tax with a 3-cent stock buying and selling spreads cost about 4% or 2 lots of 0.1cents .
    In conclusion, the persistent efforts to devalue SYA appear to be orchestrated. Until the trading bots change tactics, retail investors must either endure the manipulation or exit and maybe reenter in the future.

    Who knows maybe the day I sold 3.3 was the true Nadir, but I kind of don't think so.
 
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Last
3.3¢
Change
0.001(1.56%)
Mkt cap ! $334.5M
Open High Low Value Volume
3.3¢ 3.4¢ 3.2¢ $941.9K 28.77M

Buyers (Bids)

No. Vol. Price($)
12 5323 3.5¢
 

Sellers (Offers)

Price($) Vol. No.
2.9¢ 711480 5
View Market Depth
Last trade - 15.59pm 03/05/2024 (20 minute delay) ?
Last
3.3¢
  Change
0.001 ( 0.31 %)
Open High Low Volume
3.3¢ 3.4¢ 3.2¢ 21020600
Last updated 15.59pm 03/05/2024 ?
SYA (ASX) Chart
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