Because a lot of the $2.3 billion market cap is based on speculation and not tangible assets.It can't be based on earnings as there aren't any.
When I was drawing comparison to BNPL and Crypto is what not a comparison of the various asset classes but the type of investor attracted to these get rich quick or speculative stocks.
In a bear market a lot of stocks are sold down indiscriminately even with good tangible assets backing bit those stocks with a lot of speculation on the MC are hit harder with everyone running for the exit at the same time.
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Last
$1.38 |
Change
-0.025(1.79%) |
Mkt cap ! $3.333B | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.43 | $1.36 | $7.660M | 5.516M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 46 | 81994 | $1.37 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.38 | 55658 | 25 |
View Market Depth
| Last trade - 14.42pm 13/05/2024 (20 minute delay) ? |
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Last
$1.38 |
Change
-0.025 ( 2.41 %) |
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| Open | High | Low | Volume | ||
| $1.40 | $1.43 | $1.37 | 1766670 | ||
| Last updated 15.00pm 13/05/2024 ? | |||||
| LTR (ASX) Chart |