I don't think dilution is a problem. I think a shift in sentiment is the concern.
After such an exponential rise - 29 cents last year/$1.45 four weeks ago/$7 Billion Market Cap - any substantial selling/profit taking could snowball.
You could even argue sentiment has changed since Thursday. Some bulls have since admitted that PLS is due for a breather.
And the decision to settle this debt now - wholly through shares/at these levels - could indicate management thinks its a bit toppy too.
No surprise to see ASX companies raise at elevated price levels.
So, $2.45 last Thursday, $2.33 close on Friday:
Let's try and think in the shoes of the Altura NoteHolders in this context:
32,670,451 shares at $2.45 = $80,042,604.95 (~$80 million).
32,670,451 shares at $2.33 = $76,122,150.83 (~$76 million).
So a ~$4 million move in a two day trading environment. That's serious money.
Above is not financial advice and my opinion only.
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Last
$2.98 |
Change
-0.040(1.32%) |
Mkt cap ! $8.969B |
Open | High | Low | Value | Volume |
$3.01 | $3.01 | $2.95 | $52.16M | 17.48M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 167 | $2.98 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.99 | 53875 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 167 | 2.980 |
19 | 199813 | 2.970 |
20 | 429776 | 2.960 |
39 | 186044 | 2.950 |
28 | 113133 | 2.940 |
Price($) | Vol. | No. |
---|---|---|
2.990 | 53875 | 10 |
3.000 | 190875 | 10 |
3.010 | 237077 | 15 |
3.020 | 54908 | 14 |
3.030 | 33639 | 6 |
Last trade - 16.10pm 18/07/2024 (20 minute delay) ? |
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PLS (ASX) Chart |