Originally Posted by
43Inches
Not sure what the excitement is, but the last few weeks the ASX has been flat, with Rex shares pretty much pacing with it the last 5 days on comparison. Looks odd but generally the company results are totally in line with what the market expected from the look of it so no one of note batted an eyelid and probably just some minor trades going on.
It's got nothing to do with tracking the ASX. The ASX is made up of a basket of shares, some winners some losers on any given day. Look at MickG0105 chart. Did the market go up some 16% over the two days early August before it levelled out as you have observed. What about in February? I have watched this stock for a long time and it just doesn't make sense. Large increases in market cap on as little as 5000 shares. Goes up on no news that would elicit the action in the market. I acknowledge that the shares may be tightly held. However, as MichG pointed out earlier, there would appear to be covenants on the PAG funding. Time will tell what happens with the shares that are held now if PAG get to exercise their rights. They could easily be worthless.