Don;t think one can argue the UBS downgrade of ILU two months after every other analyst had their say. Just typical investment bank telling the market of a downgrade once all their clients have had time to digest the news imo.
Market has been downgrading commodity stocks for months now on China disappointing post-covid bounce and slower forward GDP growth expectations. That explains a good deal of the STA price fall for obvious reasons, but not all. Despite some being happy with the 6 months slow ramp up to 50% production capacity, many won;t be. Trouble with Luke going to Qtrly reporting of production and shipping is that it leaves the market guessing what is really going on and what improvements are or aren;t being made.
Price fall doesn't look catastrophic to me, more like tax loss selling and lack of confidence in the story given the above, Hopefully things get sorted out sooner rather than later...
GLTAH
STA Price at posting:
27.5¢ Sentiment: None Disclosure: Not Held
(20min delay)