This new excuse that Global X re-balancing is the cause of the continued drop in SP is not correct - the evidence doesn't support it. See below for 6-Jun-18 announcement.
Even David Coyne's hope that the downward pressure would be removed with the first Global X sell off was not fulfilled - perhaps the hope was based on a false premise?
The SP on 6-Jun-18 was 28c. Since that date, the "release of downward pressure" has resulted in the share price dropping by 43% to 16c. Nah, the Global X sell off is not the reason for the SP performance.
Targey price Revision HC Wainright & Co, page-22
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5.7¢ |
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Mkt cap ! $274.0M | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 230880 | 5.7¢ |
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| Price($) | Vol. | No. |
|---|---|---|
| 5.8¢ | 277792 | 3 |
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