What can happen, and what may be "the play" again, is that relegation from an index means certain funds need to lighten their holdings. In doing so a large number of shares become available to close out a block of shorts.
Its all only guessing, but it shouldn't require x million announcements to maintain the share price of a company that is cashed up, able to break even, and growing rapidly to stay at value. $1.34 certainly is not "at value".
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What can happen, and what may be "the play" again, is that...
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Last
$2.61 |
Change
0.160(6.53%) |
Mkt cap ! $1.802B | |||
| Open | High | Low | Value | Volume |
| $2.50 | $2.61 | $2.48 | $4.801M | 1.866M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2558 | $2.59 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.61 | 64745 | 5 |
View Market Depth
| Last trade - 16.10pm 17/09/2024 (20 minute delay) ? |
| PNV (ASX) Chart |