Syrah shares were at $ 6.66 in June 2016 but are now trading at less than half that at around $ 3.
Not exact matches
Merlot and
Syrah sales have suffered, with the latter losing half its already small market
share in the past five years.
In the four years to June 2016
Syrah successfully delineated the world's biggest and best graphite resources, and fuelled by hype around electric vehicles and lithium - ion batteries, the valuation of the company surged past $ 1 billion to a
share price of $ 6.52.
Even stock in
Syrah, of which Kumova still has about 13 million
shares, has recovered since his departure.
The
share prices jump around from day - to - day of course, and it's a point - in - time exercise but on February 7, Perseus and
Syrah were sitting at the top.
When asked if
Syrah was a takeover target at its current
share price, Mr Slifirski said: «Anytime you see a company with a world class resource in terms of scale, quality and position on the cost curve, which is exposed to a disruptive technology and has an open
share register, it makes absolute sense as a takeover target.»
Morgan Stanley analyst Rahul Anand outlined four reasons to be cautious about
Syrah in August 2016, when the
share price was around $ 4.60 per
share.
The lack of belief in the stock has recently been highlighted by the fact 16 per cent of the
share register is sold short, making
Syrah the third most shorted stock on the ASX.
Shares in much - hyped graphite play
Syrah Resources have plunged more than 20 per cent after MD Tolga Kumova resigned.