If you have a 3-4c trading range, and you double the shares on issue, per same MC, you should have a 1.5-2c trading range afterwards, plus the cash as well, that would lower the EV, provide further support.
There is a bounce trade here, if the market values the stock with the same outlook before and after the CR.
Requires patience to play out.
For longs, would want to view that the cash delivers the timeline to increase sales momentum, and FDA approval. Could merit higher returns.
Ann: Non-renounceable Rights Issue Offer Prospectus, page-118
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Last
1.4¢ |
Change
0.001(7.69%) |
Mkt cap ! $52.97M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.3¢ | $61.03K | 4.564M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500000 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 3846380 | 5 |
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