Because management did a cap raise at the expense of retail holders that provided the participants with free money. Those 'investors' have been choosing to take the money since their shares were issued and any announcement provides additional liquidity to sell into and take those profits.
Since the 30 million shares were issued on the 13/11 the share price has declined despite multiple positive result announcements.
Ann: STRONG ASSAYS FROM CUMMINS RANGE HIGHLIGHT DEPTH EXTENSIONS, page-9
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Last
1.4¢ |
Change
-0.001(6.67%) |
Mkt cap ! $11.06M | |||
| Open | High | Low | Value | Volume |
| 1.5¢ | 1.5¢ | 1.4¢ | $9.79K | 675.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 1423433 | 1.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.6¢ | 280923 | 4 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| REE (ASX) Chart |