From my understanding, the allocation is thursday. $15m at 0.38 is around 40m shares. Assuming the larger orders have come from people who've bought with cash instead of credit, you'd expect at least 50% to be in safe hands. The remainder may bide their time to get a maximum on the profit taking, so the initial sell down may only be the equivalent of 1 or 2 days volume. I would anticipate that manipulators would use any selldown momentum to run a few stops and we may even temporarily see low 60s again. Once SPP refunds are issued, hopefully by early next week, I'd expect a lot of those funds to be reinjected to take advantage of the good prices and stabilise the price even more heading towards 80c+ again. Just imo, DYOR.
SPP 25th?, page-4
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Last
$2.90 |
Change
0.020(0.69%) |
Mkt cap ! $8.732B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.94 | $2.80 | $102.1M | 35.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 314863 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.91 | 20820 | 2 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |