Guys I actually agree with you both. Illiquidity (caused by being a long-term dog and hence lack of market interest other than a few haphazard broker reports) gives shorts outsized power on sp, which makes market skeptical in a self-fulfilling fashion.
Although frustrated, I'm seeing some positives in the trading:
- Good support that is countering shorting attempts at these levels. Shorts can push sp down for a while very easily but they move very fast and will move away if buying continues to be strong (sp's inner strength). Usually after 2 decent quaterly reports showing signs of a turn-around some instos will start to pay attention, so I wouldn't be surprised if that is the case here and the 'lack of interest' could improve if the company's strategy continues to perform.
To be fair, although the BNPL part of report is very strong, overall the results is not (revenue basically flat, NPAT still below pre-COVID and will be impacted by expansion for FY22). Personally I'm not paying too much attention to the overall numbers. I'll be focusing on their strategy instead and how well it is going. As long as the strategy is going strong, sentiment will change eventually, and Travel will provide a boost at some point too. It's just, a decade of being perceived as a dog is not going to change easily, and 3 - 4 quarters of continued improvement before seeing overall market sentiment change is not uncommon.
DYOR and not advice.
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Last
68.0¢ |
Change
-0.010(1.45%) |
Mkt cap ! $334.1M |
Open | High | Low | Value | Volume |
66.0¢ | 69.0¢ | 66.0¢ | $264.2K | 392.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 31015 | 65.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
68.0¢ | 10035 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 31015 | 0.650 |
1 | 6400 | 0.645 |
1 | 6400 | 0.640 |
1 | 6400 | 0.635 |
1 | 3000 | 0.630 |
Price($) | Vol. | No. |
---|---|---|
0.680 | 10035 | 2 |
0.685 | 18738 | 2 |
0.690 | 509010 | 6 |
0.695 | 34400 | 3 |
0.700 | 32781 | 3 |
Last trade - 16.10pm 28/08/2024 (20 minute delay) ? |
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