The following is a modified extract of my post https://hotcopper.com.au/posts/24442860/single
"In re of what might happen to the SP once the Suspension is lifted some recent posters have expressed the view that a 1st and/or 2nd day spike downward should not happen.
I often consider the “theory of contrary opinion” as a contribution to forums such as HC and of course respect the rights of others to disagree with my PoV.
For this reason
- in the absence of any news that the market won't re-rate the SP upwards until the "corporate affairs" are sorted out first
- I do expect a number of present holders could be feeling scared s*itless and thus might well pull the pin on the 1st or 2nd day post-Suspension, selling out for what they can get regardless of the outcome for them.
IMO my chart tells me that if such a scenario eventuates the SP could well fall to between 10 & 13.5c – the range the stock traded in during the period 08 Mar 2016 (the date the Co. announced its lithium deposit) and 04 Apr 16 - and then rebound strongly upward back to current levels on the 3rd or 4th Day.
Given that on the last day the stock traded there were buyers of far less shares than sellers were offering ,
if I had funds available I’d be jumping in with a bid at price levels close to the lower end of this range. GT.
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