182,857,144 new ordinary shares issued today at 0.35c, to cap the share price further.
1m shares traded today. Doesn't bode well for how long this is going to be held down.
On the other hand, the Buy / Sell indicates around 70m buyers above the 0.35c listing price (how long they'll remain there is anyone's guess). If there's a big dump, we could see the profit takers cleared out within a short period of time - at the expense of the SP of course.
This all depends on news and how much conviction these "sophisticated" investors have in supporting the company. They'll want to make as much profit as possible, and in my experience, a lot of them just dump immediately, not caring one iota about the effect on the SP or future profit potential.
Have to wait and see. Probably a while before we see any kind of uplift in the SP I'd guess, unless there's some stellar leftfield news landing to clear out the sell pressure overhang.
Very disappointed in the price at which the CR took place. I know it's a very difficult time to be raising finance, but management really should have done better than this. Very poor.
ENV Price at posting:
0.6¢ Sentiment: Hold Disclosure: Held
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