Its low trading volume days like today and yesterday where BG's shares are not being offloaded, that i would expect to see the RAC SP climb 10c or more (3%), but this isn't happening.
This shows three things:
1. There are SH's who are offloading SPP shares for a quick 10% profit (very low volumes)
2. There are no new SH's interested in buying RAC shares at this stage, better opportunities elsewhere on the ASX
3. RAC is a stock that needs positive news for the SP to move upwards, SP doesn't increase without news
This is a bit of a concern especially when BG still has 6M shares to off load, as we have seen many good announcements over the last 9 months but SP has dropped from $4 to $3.30
With this pattern I can see the SP still being at this level in 4 months time, why wouldn't current holders invest their RAC money in lithium stocks - which are outperforming the market at the moment, then come back in May?
Is there a FOMO in RAC over the next 4 months?
Its low trading volume days like today and yesterday where BG's...
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