I suspect today's consolidation was due to Fool's CR speculation, and late sell-off from day traders.
As posted before, the latest annual report stated, NHL raised $2m two months ago, and expected current cash along with upcoming revenue to be able to meet cash requirements for next 12 months. It's unlikely to do another CR.
However, if were, I believe the amount would be very low, say, $3m to $5m.
Taking PCK as an example, their share price rose from 3c to 17c in a very short time, then CR raised $4.1m at 14.5c, share price went to 22.5c just few days after the CR news, then hit 37c two months later, reached valuation of $370m.
RAP, reached $300m valuation.
Currently NHL, $64m.
NHL Charts, page-2182
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| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
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| 16 | 32307009 | 0.1¢ |
Sellers (Offers)
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| 0.2¢ | 9244165 | 16 |
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