This stock is priced for failure, when in fact the company has been saved with the funding arrangement (subject to shareholder approval, which should be a given due to the fate of the company if the resolution is failed).
When a company has been on the brink, existing / long-term holders want to run for the hills, no matter the exit price as something is better than nothing). Imagine all the holders who were praying for an opportunity to exit whilst it was suspended.
This, along with some DTs, were responsible for the volume today.
We see this scenario time & time again with companies for which their fate seemed to be doomed (recent example of ELD).
I jumped on late in the day today as I see very limited downside (short term) and nil downside (longer term) IMO ONLY
Also IMO, value will find it's way to the surface & shortly i'm expecting this to be trading at levels double today's close.
DYOR PLEASE - ALL IMO ONLY
BCD Price at posting:
18.9¢ Sentiment: Buy Disclosure: Held
