Because the PoO fell 5% the night before they began trading.
As I wrote in my last post, if you add our MC (average for the past 12mths) to the purchase price of Who Dat, you get a KAR SP of ~$2.50.
The PoO rose 4.12% last night as OPEC said they would consider cutting supply again:
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Said-To-Consider-Additional-1-Million-Bpd-Output-Cut.html
Accordingly, I would expect the KAR SP to rise on monday and the opening friday SP of $1.96 to have been a most excellent opportunity for anyone with the wherewithal to buy.
Don't believe a word of what a Politician says, look at what they do:
Karoon - my views, page-24
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 (20min delay)
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Last
$1.90 |
Change
0.000(0.00%) |
Mkt cap ! $1.518B | |||
| Open | High | Low | Value | Volume |
| $1.90 | $1.91 | $1.86 | $9.030M | 4.770M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 47821 | $1.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.90 | 65000 | 2 |
View Market Depth
| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$1.91 |
Change
0.000 ( 0.22 %) |
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| Open | High | Low | Volume | ||
| $1.90 | $1.91 | $1.86 | 868629 | ||
| Last updated 15.59pm 21/05/2024 ? | |||||
| KAR (ASX) Chart |