Because Zip is funded almost entirely by shareholders. They bought the founders their cars, houses, business premises, and the other companies. The business doesn't make money. Printing shares is the cash cow.
I do feel Zip is now a cautionary tale for the ASX on investor relations. Drop the ball, and the excitement is gone. Without sentiment, your shares have no value (unless they pay divvies). They dropped the ball early, and are now stuck in a messy dilution cycle.
At the next CR, they're gonna have to print enormous amounts of shares with this very low SP, so the cycle continues.
Look after your investors (not just the sophisticated, but also retail), or become the #1 untrusted stock of the ASX
Worst stock of 2021, page-80
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$2.12 |
Change
0.000(0.00%) |
Mkt cap ! $2.751B | |||
| Open | High | Low | Value | Volume |
| $2.11 | $2.19 | $2.08 | $37.25M | 17.52M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 134476 | $2.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.14 | 90343 | 8 |
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| ZIP (ASX) Chart |