The hand brakes are off the RAC sp:
- end of selling by some to fund there bonus options, reducing sell supply
- sophisticated investors and insto’s who have approached Race to underwrite a portion of any shortfall of bonus option conversion will likely receive little or none. They will need to get off sideline and buy on market increasing buy demand
- funding secured till at least 2029 (with piggies in the money) giving confidence to market that no more surprise cap raises for medium term
- new positive news to come out after capital raise is done … tends to happen regularly. Remember what happened after the IMU placement and SPP in Sept 2023. Also happened with CU6 capital raise earlier this year. IMU and CU6 gained 100% to 200% within 6-7 weeks of their respective cap raises being completed.
- increased investor out reach and marketing. First being the Sharewise webinar on 5 June, one day after completion of bonus options fund raising.
RAC - Charts & Price Action, page-21048
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Last
$1.52 |
Change
-0.030(1.94%) |
Mkt cap ! $258.9M | |||
| Open | High | Low | Value | Volume |
| $1.57 | $1.57 | $1.50 | $75.34K | 49.79K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 300 | $1.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.52 | 49256 | 1 |
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| Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
| RAC (ASX) Chart |