Anyone who wanted RRL shares has been able to pick them up below $2.70 for weeks now, plus various parties (the underwriters particularly) have a lot of stock they probably don't want to hold long term so are likely to start trickling it into the market for a while, that's the overhang. There's also general uncertainty so a few people selling out because RRL is no longer what it was.
On that basis you have a bunch of people looking to unload (including the underwriters) with no one in any particular hurry to buy (simply because they already have their fill). Personally I quite like these situations because this period can lead to a temporary price depression.
I recall a similar thing happened with MTS around 12 months ago (temporarily drifting below the raising price) and I took the opportunity near the lows. I even think the raising price of $2.70 was the same or similar. I'm hoping for a repeat here but I'm less confident with this one, at least until we start seeing some positive consolidated production and cash flow reports.![]()
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Last
$1.63 |
Change
-0.010(0.61%) |
Mkt cap ! $1.231B |
Open | High | Low | Value | Volume |
$1.65 | $1.66 | $1.62 | $3.457M | 2.115M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 617 | $1.62 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.63 | 9925 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 617 | 1.620 |
1 | 56 | 1.615 |
2 | 57749 | 1.610 |
6 | 60434 | 1.605 |
6 | 55264 | 1.600 |
Price($) | Vol. | No. |
---|---|---|
1.630 | 9925 | 2 |
1.635 | 60889 | 3 |
1.640 | 33403 | 2 |
1.645 | 20000 | 2 |
1.650 | 2232 | 1 |
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