capital raising ... a dud

down another 5% today
gains from the capital raising seem to have evaporated overnight.

wonder if we'll go below the $3?

can't help thinking this is a risky sector with a lot of competition
eg lei, ugl, dow
If so ...no growth
the expected return for dow is about 15%
the expected return for tse is about 7.5%
or put another way
the risk free rate is 5.75% and the equity risk premium for tse is about 1.75%
looks a bit overvalued actually