The core reason for the correction in BOE is its relationship with the major Uranium ETF's. These ETFs have seen profit taking and wealth exiting the sector (for the time being or at least tempoarily). When ETF's see outflows they sell down all there holdings regardless of value or price.
I posted some time back the % and numbers that show that ETF's are making up a large percentage of daily BOE volume. As in 50% plus on big ETF movement days. It has turbo charged the upside for BOE but its also turbo charging this correction.
IMHO ~$100 average contract U price is now baked into equities (assumed by investors this will be floor price for a sustained period), if we see U prices contnuing to move higher 150+, then there will be a new rerate and a significant one.
The core reason for the correction in BOE is its relationship...
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Last
$5.42 |
Change
0.110(2.07%) |
Mkt cap ! $2.214B | |||
| Open | High | Low | Value | Volume |
| $5.30 | $5.42 | $5.26 | $13.05M | 2.440M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 56100 | $5.42 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.43 | 2570 | 1 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
$5.41 |
Change
0.110 ( 2.40 %) |
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| Open | High | Low | Volume | ||
| $5.29 | $5.42 | $5.26 | 546539 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| BOE (ASX) Chart |