indeed, todays 9% drop needs to be looked at in the context of what has changed since the last time we had a 70c share price (31st jan) - Lithium up from 377 to 447 = 20% rise + 240m given without conditions.
Markets are mispricing this now having failed to price in the rise in LCE.
But as long as the snetiment is negative across the macro, its an opportunity to drive down the high-flyers; shake the tree, get rid of the weak and scoop up profitable positions are undervalued prices. Pretty much a standard game for momentum traders and so called sophisticated manipulators (funds).
Any stock outperforming the index is a prime candidate for their strategy, AVZ possibly their number 1 pick given the stella rise. Market seems to have forgotten why the stella rise, certainly wasnt on any fundamental news - were still waiting for that!
nevertheless - Ouch; today hurt! haha
AVZ Price at posting:
72.0¢ Sentiment: Buy Disclosure: Held
