Yep, and whilst we all scratch our heads at who is selling at those prices after the OCC share price history and (at long bloody last) its recent revenue progress, none of us are scratching our heads at the buyer's logic.
US 10-year treasures traded 25 BPS off 5% last night. A Fed relief rally in equity mkts despite no expectations of a raise. I think we might be quickly coming out of the one reliable constant of markets (another cycle) and a recent brake to OCC and many other small cap bio-tech companies performing well but displaying low share prices, that was massively amplified and quickened by hugely excessive Central Bank intervention and flipping therein. We've possibly seen the sucker's rally premise play out and possibly exhaust itself in the US at least (still think many US techs over-valued in places, but likewise many pre-free cash flow companies with very good growth and forward earnings prospects trading at silly low multiples). The global economy is a bit crap and will be for some time IMO, but companies like OCC still have massive growth potential in that massive economy that keeps plodding on for the most despite the market cycles.
Powell just, ambiguously, dispelled any notions of a December raise and also they feel no recession (I agree with the Fed for once - or shallow recession at worse - unless they raise rates in 2024 against somewhat neutral expectations that obviously now more sensibly call a cut in 2nd half 2024 rather than 1H 2024):
""The answer is no," Fed Chair Jerome Powell said when asked if the central bank staff added a recession back into their forecast. "The staff did not put a recession back in.""
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Last
66.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $139.0M |
Open | High | Low | Value | Volume |
66.5¢ | 66.5¢ | 64.5¢ | $276.6K | 421.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 25500 | 65.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
66.0¢ | 9999 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 25500 | 0.650 |
2 | 27817 | 0.645 |
2 | 160000 | 0.640 |
3 | 6376 | 0.630 |
1 | 10000 | 0.625 |
Price($) | Vol. | No. |
---|---|---|
0.660 | 9999 | 1 |
0.680 | 4000 | 1 |
0.690 | 16900 | 3 |
0.695 | 4500 | 1 |
0.700 | 12078 | 3 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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OCC (ASX) Chart |