One doesn't need to be Einstein to work out what's probably going on with stocks like FAR and CVN.
They both have a share in a huge resource and both are no doubt being played.
Go back where AWE were played down to around the 45 cent mark then 3 bidders came in to try and acquire the company, it finally went for about 95 cents.
Small companies with a share in a large project are always at the mercy of big oil as its a relatively cheap alternative to drilling dusters trying to find a resource.
AC's last CAP raise was no doubt partly a defensive strategy in case we have majors sniffing around.
CVN are now in a stronger position cash wise and on the cusp of telling the market volumes and flow rates.
FAR on the other hand are a one trick pony and in a more fragile position with 6 billion shares and having to have a CAP raise just to pay the bills every 9 months.
So IMO both companies are being capped, shorters play their part in that but there are bigger forces at work behind the scenes.
When a predator wants something the first thing the do before they come in for the kill is weaken it.
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Last
17.0¢ |
Change
0.010(6.25%) |
Mkt cap ! $304.1M |
Open | High | Low | Value | Volume |
16.0¢ | 17.0¢ | 15.5¢ | $627.4K | 3.817M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 306000 | 16.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.0¢ | 374569 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 306000 | 0.165 |
1 | 6250 | 0.160 |
22 | 1109439 | 0.155 |
11 | 1113924 | 0.150 |
18 | 717263 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.170 | 114207 | 3 |
0.175 | 247000 | 4 |
0.180 | 415439 | 10 |
0.185 | 152057 | 4 |
0.190 | 221500 | 3 |
Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
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