I would imagine it is because shareholders interpreted the annoucement as a possible capital raising (where will the shares the North American funds come from? I doubt on market).
Also RED looked to be heading towards a downtrend anyway. The annoucement just spurred it on.
a good sign, page-6
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Last
34.8¢ |
Change
-0.008(2.11%) |
Mkt cap ! $2.431B | |||
| Open | High | Low | Value | Volume |
| 35.5¢ | 36.0¢ | 34.5¢ | $3.301M | 9.288M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 76 | 2453026 | 34.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 35.0¢ | 1662030 | 46 |
View Market Depth
| Last trade - 13.20pm 12/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |