Big dilemna for me now with stock at 29c. I was really hoping the stock would fall below 25c so I could purchase the other half of my allocation. If the stock holds up here at 29c, the question will be whether it will be possible to pick up the stock at less than 29c after the rights issue closes from those who take up their rights but end up selling if the stock doesn't trade at a premium to the rights price. My guess is that many will not take up their rights anyway unless the stock trades at a premium when the rights offer closes thus limiting the potential overhang should the markets get the wobbles. Furthermore, those who always intended to take up their rights would have taken the opportunity to buy at a cheaper price on market already and are unlikely sellers. Therefore, using my logic, it looks like my best chance to get the stock at say 27c would be too hope for some short term market weakness or have the stock trade at a premium to 29c when the rights offer closes and then have those retail investors sell their shares if the markets weaken post the rights issue.
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