I would imagine it is because shareholders interpreted the annoucement as a possible capital raising (where will the shares the North American funds come from? I doubt on market).
Also RED looked to be heading towards a downtrend anyway. The annoucement just spurred it on.
a good sign, page-6
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Last
35.5¢ |
Change
0.010(2.90%) |
Mkt cap ! $2.414B | |||
| Open | High | Low | Value | Volume |
| 36.0¢ | 36.5¢ | 35.3¢ | $9.516M | 26.60M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 331651 | 35.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 409958 | 9 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |