Australian investors would have seen the bad news (via news articles - see the ABC article on 21 JUne 2022: Queensland budget 2022: Winners and losers) and made a decision to sell before 30 June or after, for tax purposes. And the sellers won. Not to mention the short sellers taking advantage of a potential drop.
Despite the time gaps sellers are still likely to come from overseas: the Japanese and other asian funds in the afternoon (AEST).
The Europeans will be next.
The US (US had a holiday on Monday) will be last, unless there are a couple of early birds taking note of the news articles published explaining the new royalty levels.
Bottom line I am now expecting wild swings of ups and downs as investors go: 'What the!'; followed by: 'The price is too low to resist.'
Personally I'm still at: 'What the!'
SMR Price at posting:
$1.70 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)