viewBlue Sky Alternative Investments Ltd

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.

Quick facts: Blue Sky Alternative Investments Ltd

Price: - AUD

Market: ASX
Market Cap: -

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