STU 0.00% 94.0¢ stuart petroleum limited

theories on current weakness

  1. 1,987 Posts.
    I'm curious whether anyone has any ideas on why the fall in STU's price over the last couple of days. I know it touched an all time high a few days back, but it has drifted down more than 10% since then. Given that there has been a couple of positive announcements over that period including the spudding of Kiwi 1 - what's the story.

    I'm not a holder of STU so I haven't been watching it all that closely but the volume appears to be pretty low so I tend to rule out manipulation by someone trying to take a large position at a lower price. I would also tend to rule out the option that it was overpriced and is now coming back to a fairer price. My rough calculation puts fair value at about $1 and that's not including any attributed value to its PEL holdings.

    Comments appreciated.

    Cheers

    Badfish
 
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