Similar price action happened after the RI last year, where it traded down to around the breakeven of the new shares + options. However there was an approx 50% shortfall that the underwriter had to deal with.
It then trended up on a series of positive progress reports ahead of the CDP startup......followed by sell the fact, (then sell pre placement for those in the know )
Its formed another bear flag now, with next support at 45.5c. Various potential catalysts for the sp in the works, but a bit vague as to if and when they happen. By comparison, I think there was a higher level of confidence driving the sp ahead of the CDP startup.
HZR Price at posting:
47.0¢ Sentiment: None Disclosure: Held
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