Anytime a stock recovers after a lengthy period of time at a depressed SP there will be trapped shareholders that want to exit. You tend to see this as a plateauing of the SP for a period of time and then a move up once the previously trapped shareholders have exited.
There is no fundamental reason that we can’t get back to where we were a year ago in regards SP. The decline in the SP was not caused by the fundamentals getting worse, nor the macro environment for biotechs. Once people are comfortable that RAC is heading in the right direction again then we should see a reversion to the mean.
RAC - Charts & Price Action, page-19881
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Last
$1.79 |
Change
0.035(2.00%) |
Mkt cap ! $302.7M | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.79 | $1.70 | $916.8K | 527.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $1.70 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.79 | 9427 | 1 |
View Market Depth
| Last trade - 16.10pm 07/06/2024 (20 minute delay) ? |
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Last
$1.75 |
Change
0.035 ( 0.75 %) |
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| Open | High | Low | Volume | ||
| $1.76 | $1.77 | $1.70 | 30396 | ||
| Last updated 15.57pm 07/06/2024 ? | |||||
| RAC (ASX) Chart |