Hey mate, aside from the potential risk of not meeting bridging finance, today's trading made little to no sense - to me at least.
After the announcement the share price went above 50c, only to come crashing down to 19c? I can't help but think one or more instos decided they're out and that was that.
I don't understand why at this price the SPAC wouldn't just make an offer at current share prices or a multiple above. But still heavily discounted. Assets and lack of debt alone make this company worth more than the current measly market cap.
Did anyone catch if the incoming $8m cash from the government in the next fortnight is part of the $30m needed to keep afloat prior to the merger? Is it not in the SPAC's interest for CBR's share price to slide further?
I doubt I'll be averaging down any further - too hard to predict where this will go. No matter how much I like the product. I hope to come out of it with some margin and then look to buy on the NASDAQ/NYSE for the next stage of this company's life. If it gets there!
CBR Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held
