I just don't get it. 2 Questions....
1. Why do retail shareholders subscribe to the placement at $0.85 when they can buy the shares on-market at prices as low as $0.635? Maybe somebody who subscribed to the placement can explain why they did.
2. Why did the share price drop to $0.635 after the placement to "sophisticated" & institutional investors at $0.85 especially since the MD described the placement as "heavily over-subscribed?" You would rightly assume the "sophisticated" & institutional investors will gleefully buy more shares on market once the price drops below $0.85. Thereby, preventing it dropping much below $0.85.
My Grandpa Freddy once said the sharemarket is the orderly transfer of wealth from the village idiot to the smarties. Is this what he was referring to???
Cheers,
hih
which goldie to buy?, page-13
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Last
$1.54 |
Change
-0.023(1.44%) |
Mkt cap ! $1.489B | |||
| Open | High | Low | Value | Volume |
| $1.58 | $1.59 | $1.52 | $3.479M | 2.240M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 22 | 62242 | $1.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.54 | 23372 | 17 |
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| Last trade - 12.05pm 07/06/2024 (20 minute delay) ? |
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Last
$1.54 |
Change
-0.023 ( 0.49 %) |
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| Open | High | Low | Volume | ||
| $1.58 | $1.58 | $1.52 | 783485 | ||
| Last updated 12.25pm 07/06/2024 ? | |||||
| SLR (ASX) Chart |