IMO, the following will ensue:
1. Sep Qtr update will be out soon, it will be a reasonably good report (think company will be put a spin on anything negative as they are negotiating debt and will like to put a decent floor on share price). Share price will react and will increase.
2. However, this will prove temporary, I will sell the dips if possible (getting hold of borrowed stock is difficult). Company will do a capital raising in addition to restructuring debt. Capital raising will be done at a significant discount.
3. Share price will devalue to capital raising price.
Good luck to shareholders.
Trading in LYC
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Last
$6.41 |
Change
0.040(0.63%) |
Mkt cap ! $5.991B | |||
| Open | High | Low | Value | Volume |
| $6.45 | $6.49 | $6.40 | $13.34M | 2.079M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13384 | $6.41 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.42 | 13471 | 2 |
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| Last trade - 16.10pm 09/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |