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.
Because a lot of the $2.3 billion market cap is based on...
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Last
$1.38 |
Change
-0.020(1.43%) |
Mkt cap ! $3.351B | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.43 | $1.37 | $5.570M | 3.993M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 89754 | $1.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.38 | 16521 | 5 |
View Market Depth
| Last trade - 11.39am 13/05/2024 (20 minute delay) ? |
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Last
$1.38 |
Change
-0.020 ( 2.41 %) |
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| Open | High | Low | Volume | ||
| $1.40 | $1.43 | $1.37 | 1151233 | ||
| Last updated 12.01pm 13/05/2024 ? | |||||
| LTR (ASX) Chart |