You've had a lot of hot money come into this at the $0.37 cap raise price. A lot of these investors/funds have had a very rough time in resources sector investing for many years. I think they are happy to take their 30-40% gain and will sell this down until there is another cap raise or tangible reason they must jump back in (ie offtake deal, financing etc).
I think PLS will take a negative breather for a few weeks before resetting. Shouldn't impact medium/long term investors, but for short term traders just feels a bit weak right now.
The sector is over-hyped with 2-3 companies a week at the moment chasing Lithium deposits. This hype never lasts in the mining sector for long.
Is PLS Cheap?, page-104
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Last
$2.96 |
Change
-0.020(0.67%) |
Mkt cap ! $8.913B | |||
| Open | High | Low | Value | Volume |
| $2.94 | $3.02 | $2.91 | $52.74M | 17.74M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 31282 | $2.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.96 | 15058 | 2 |
View Market Depth
| Last trade - 16.10pm 11/11/2024 (20 minute delay) ? |
| PLS (ASX) Chart |