Yes, an astute move in hindsight, Coco. Yours truly sold 3 million at 2.9 a few days later. They did bounce to 4.0 later, which would have seen me square, but c'est la vie.
The difference between then and now is that in those days there was good turnover and you could shift stock. Now there is no demand, and holders with serious stakes just can't get out. They have little alternative other than to hope that finally the company will deliver.
Ann: Underwritten Rights Issue Capital Raising, page-175
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