2 things come to mind.
1. The nature of the stock ( speculative ) lends itself to people who are there for a quick buck. As there aren't likely to be much by way of significant announcements anytime soon, they're moving on.
2. Karoon burns cash and will continue to do so for a while to come. That means that there will be another share issue 'soon', and as usual it'll be at some kind of discount. The Instos know they'll be able to buy back at whatever the discounted price is, so why hold?
just so hard to understand, page-5
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Last
$1.49 |
Change
0.010(0.68%) |
Mkt cap ! $1.178B | |||
| Open | High | Low | Value | Volume |
| $1.48 | $1.49 | $1.47 | $1.367M | 922.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 20650 | $1.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.49 | 36670 | 27 |
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| Last trade - 11.03am 18/09/2024 (20 minute delay) ? |
| KAR (ASX) Chart |