On Friday Iluka mines (ILU) demerged DRR from its books and has accordingly gone through a price adjustment.
The spinoff of DRR does not effect the fundamental business of ILU and as such any current and future SPA3 Investor signals remain valid.
ILU’s price underwent a price split by a factor of 0.508 which can be viewed in the Corporate Actions within Beyond Charts. (Right click and choose show)
The above Closed at $9.90 on the 22/10/2020. When one does the calculation of 9.90 * .5080808 the opening price the next day should equal $5.03. Why is the opening price listed at $5.95?
Because it gapped up at the open as the buying pressure was stronger than the selling pressure. Stocks don’t have to open at the closing price of the day before.
