You might be missing the market. Its got nothing to do with BC8, its across the board. CHN raised $100m at $6 last month and you can pony up at $3.70 today. That's close to the same discount to the BC8 placement. LTR raised $450m at $1.60 and its .97c today. It had a $3 target. That is also about a 40% discount. This is why having some cash on the sideboard is a great play. You can buy these companies when everyone is panicking, in debt, getting called, needing themoney for other bills, hitting stop losses etc. Not very nice for anyone. These companies are all real with cash and yet the funds are selling things at massive discounts. They are only human and freak out as well. I think this is the larger deleverage play for easy money and fund redemptions. People want liquidity even if they roast themselves for it. Its a bit like what happened with every major market fart. Run for the exits in a thin buy side market and it just falls on small volume. If people cant buy and hold stocks, its very uncomfortable. The last thing anyone wants is to be blown out when you dont want to go imo. Market feels short term toppy again and hence the weakness everywhere. Roll on.
BC8 Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
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