I strongly believe that the share price presents a great value to these sophisticated investors.
They paid peanuts whereas the founder (I mean Sojitz paid $2.12). I would not be surprised if they turn to be on a similar scale to Sojitz.
Patterson are not stupid to lose money on this one. They probably have prior agreement with these investors.
Even if they did not, they will keep pump and dump the share price to get their money back from the difference.
I agree that the share price will be volatile and then go into consolidation prior to the quarter report.
I guess it is game on, to take advantage of the low price and nibble at it every time it looks ridiculously low and not to get sucked in on the pump ( I will buy on the dump)
Interesting times ahead.
Good luck.
My opinions and thoughts.
Rules of the play, page-58
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Last
$6.80 |
Change
-0.100(1.45%) |
Mkt cap ! $6.356B | |||
| Open | High | Low | Value | Volume |
| $6.78 | $6.80 | $6.69 | $13.60M | 2.014M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 13933 | $6.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.80 | 1389 | 3 |
View Market Depth
| Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
| LYC (ASX) Chart |