I think todays S P. give back is more of a reaction to the ratings downgrade for USA debt.
I think it would be unwise to underestimate the importance of the USA going from AAA to AA+.
Interest rate will rise tomorrow, and the USA stock futures are deteriorating as we speak.
On a separate issue, MP Materials is getting taken to the wood shed these past days. Perhaps some of the key banking houses are realizing that MP Materials/Moutain Pass simpmy cant make money with less than exorbitant RE prices. That was the nail in the coffin for Molycorp after the last RE collapse.
I think our S.P. will wont be so ugly later in todays session.
Just a few personal thoughts.
Quarterly Report and Briefing, page-27
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Last
$7.70 |
Change
0.130(1.72%) |
Mkt cap ! $7.197B | |||
| Open | High | Low | Value | Volume |
| $7.62 | $7.70 | $7.52 | $35.79M | 4.688M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12728 | $7.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.70 | 33134 | 4 |
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| Last trade - 16.10pm 26/09/2024 (20 minute delay) ? |
| LYC (ASX) Chart |