MF agrees with youZip shares are not immune to the broader market weakness this morning.
Another factor contributing to the weakness in the share price might be the SPP share price. Typically, the share price for the SPP is set to match that of the institutional placement, and this was true for Zip as well. The company set the SPP price at $1.56 (or lower), mirroring the price during last week's capital raising.
However, the Zip share price surged from $1.61 on 16 July, before the capital raising announcement, to $1.75 now. This gap between the market price and the SPP share prices might concern investors. Some of the newly issued shares could be sold in the market, as investors see it as an arbitrage opportunity.
Ann: ZIP Share Purchase Plan, page-32
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Last
$3.11 |
Change
-0.030(0.96%) |
Mkt cap ! $4.060B | |||
| Open | High | Low | Value | Volume |
| $3.33 | $3.39 | $3.06 | $69.21M | 21.79M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 100090 | $3.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.12 | 70479 | 6 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |