Sign up Australia
Proactive Investors - Run By Investors For Investors

Blue Sky shares dip as much as 27% intra-day as trading recommences

Blue Sky has offered full assistance to ASIC and complete access to all relevant materials.
price chart coloured red with man with both hands on head in distress
Blue Sky is Australia’s leading diversified alternative asset manager

Blue Sky Alternative Investments Ltd (ASX:BLA) shares recommenced trading this morning after responding to opinions from short-seller Glaucus Research.

Shares opened this morning at $8.40 and dipped as low as $7.51, representing a 27.8% loss from their last close of $10.40.

READ: Blue Sky enters trading halt following attack from short seller

Last Wednesday, US-based short-seller, Glaucus Research released a report claiming Blue Sky shares were overvalued and worth $2.66 in their opinion.

As the report quickly disseminated through the Australian market, shares began to fall and the stock was down 13.4% to $10.40 before going into a trading halt.

Shares returned from trading halt this morning

Yesterday evening Blue Sky published a response to Glaucus’s claims and this morning held a teleconference to alleviate investors’ concerns.

However, the response from Blue Sky and teleconference this morning have done little to calm investors nerves after the stock resumed its sell-off.

Shares starting to rise from their low

One positive for Blue Sky is that shares have bounced off the intra-day low of $7.51 to now be trading at around $8.44.

Shareholders will no doubt be hoping this rally continues.

View full BLA profile View Profile

Blue Sky Alternative Investments Ltd Timeline

Related Articles

picture of trading screens
Thu
With an optimistic outlook on future earnings, the company expects to recommend its first dividend in the second half of the current financial year.
Flow chart of the Hazer Process
March 21 2018
The Hazer Process could disrupt the $100 billion hydrogen production market.
Digital marketing
May 03 2018
Lots of marketing groups have pursued a 'buy and build' strategy and have become cumbersome as a result; Be Heard puts the emphasis on maintaining agility

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use