There's a few reasons why the share price is where it is:
1) Obviously the whole green tech sector has been slaughtered over the last years and CWE is no exception.
2) CWE's main project has been delayed 1+ years. Investors won't come on board en masse unless they think money can be made and that, at the moment, is still a far distant vision. Until CWE completes the PWEP and begins to accumulate new projects, the SP will remain where it is.
3) Yearly cap raisings, each at a strong discount to the market price, is, along with the accompanying massive dilution, pressing the price down over the long term.
IMO, the days of share prices soaringon rumour or perceived future potential are over. In this post-GFC environment, investors want concrete evidence of earnings, a full order book, solid assets and low debts and assured funding before they will invest in a company, even a minnow.
There are few with an appetite for risk large enough to invest in the likes of Carnegie at its current stage.
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