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

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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.

Quick facts: Blue Sky Alternative Investments Ltd

Price: - AUD

ASX:BLA
Market: ASX
Market Cap: -
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