Morning Dozen,
That's a bit bit to simplistic view
... as annoying as the quick sell down from sophisticates who participate in CR's for that reason is we have to remember some fundamental differences with this one:
* This is the last CR that we will have without a $ in front of it, all other CR's will be for starting actual constructions on either Purification Plants, Anode Recycling Plants, EPANKO Graphite Mine or a Anode Coating add on facility and they all will be accompanied by strong offtake partners and terms and strong Government Financial Support.
* No SPP - this ensured our SP did not drop below the CR, see NVX for example, there are many more...
* Sophisticates who participated in the CR are almost done, most would have gotten out on the Plant # 2 announcement, they usually sell within the 1st few days after receiving the shares as they don't want to risk being stuck in the RED
* All holders who were holding prior the CR and were on large profits and didn't have a longer term view of holding are all gone, this is also evident by the lack of sellers, they would have all sold when the SP was getting pushed below 0.60c once the CR shares got issued.
* We will get the odd punter and traders who were holders and have sold on the spike, and are now waiting on the best re-entry price and were hoping it will drop to the CR price which most stocks do usually but have not taken my reasoning into account. Some of them will now write all sorts of funny things...but with EGR's SP being at under $500mil MC, I for one, can not take them to serious.
* German Holders are not willing to sell very many shares below 0.70, they know this CR shares have only limited supply, my prediction is we will breach $1 again no later than by next Friday, after that it will be smooth sailing to $2
* I hope that
@Itstime2021 has not confused my $2 prediction with 'Ramping'...I have give my reasoning on why I think this price point is next in previous posts...one of them ...at $2 our MC is till long way under $1billion, and there have been numerous examples by myself and other posters on why we think EGR is much further advanced when compared to other Co's that already have MC's of ~$1Billion.
* Traders and investors sitting on the sideline will now slowly accumulate again as they know next announcements are able to pop up any day and the opportunity for the SP to drop much lower is diminishing by the day, unless of course there ae some major RED events in the Markets.
All IMO
(20min delay)