In the week since my last post, it seems that KGN found a degree of support at the 200-day exponential moving average (yellow line). Since then, it has bounced over 10%.
Today's court ruling may have been a threat to KGN's price recovery. While Kogan was found guilty, the finding did nothing to pull the price back down to the 200EMA. Instead, it has jumped over 4% at the time of writing.
To put the magnitude of Kogan's guilt into perspective, I read that:
- the ACCC was seeking a fine of $2 million
- Kogan had allocated $700K in its budget (in case it was found guilty)
- the courts fined Kogan $350K.
To put the $350K into perspective, KGN made $497 million in revenue during FY20. That's about $1.36 million a day, or 7 hours of revenue.
In the week since my last post, it seems that KGN found a degree...
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Last
$4.23 |
Change
0.010(0.24%) |
Mkt cap ! $425.6M | |||
| Open | High | Low | Value | Volume |
| $4.22 | $4.33 | $4.22 | $1.622M | 380.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 4778 | $4.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.26 | 742 | 1 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| KGN (ASX) Chart |