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.
You've had a lot of hot money come into this at the $0.37 cap...
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Last
$2.92 |
Change
-0.060(2.01%) |
Mkt cap ! $8.789B | |||
| Open | High | Low | Value | Volume |
| $3.00 | $3.01 | $2.91 | $68.57M | 23.32M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 33426 | $2.92 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.93 | 27520 | 3 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |