A great example of retail investors getting screwed up by institutions.
All planned up with few institutions and DRO management - Releasing announcements and tentatively pump up the share price to attract investors.
Then dump the shares at $1.1 to all retail investors before buying back at $0.8 / share through unnecessary capital raise.
If the company already has over $50m in cash and minimal debt there is absolutely no need to raise another $75m.
Bit ridiculous in my opinion plus the company has actually burnt $10m in cash in Q1 2024 alone, despite "claiming 10x on revenue" but cash receipt shows otherwise, pretty much the same as Q1 2023 at $7m.
Seems like more cash burnt this year, in tens of millions, hence the cap raise.
- Forums
- ASX - By Stock
- DRO
- Ann: $70m Fully Underwritten Placement and up to $5m SPP
Ann: $70m Fully Underwritten Placement and up to $5m SPP, page-24
- There are more pages in this discussion • 526 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add DRO (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.43 |
Change
-0.020(1.38%) |
Mkt cap ! $1.101B |
Open | High | Low | Value | Volume |
$1.49 | $1.49 | $1.41 | $7.927M | 5.483M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
12 | 14544 | $1.43 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.44 | 13207 | 10 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
26 | 110180 | 1.430 |
10 | 29012 | 1.425 |
13 | 45604 | 1.420 |
14 | 154900 | 1.415 |
11 | 38470 | 1.410 |
Price($) | Vol. | No. |
---|---|---|
1.435 | 95 | 1 |
1.440 | 43451 | 9 |
1.445 | 102013 | 10 |
1.450 | 133664 | 13 |
1.455 | 33500 | 6 |
Last trade - 12.33pm 14/06/2024 (20 minute delay) ? |
|
|||||
Last
$1.42 |
  |
Change
-0.020 ( 1.26 %) |
|||
Open | High | Low | Volume | ||
$1.48 | $1.48 | $1.41 | 1438817 | ||
Last updated 12.54pm 14/06/2024 ? |
Featured News
DRO (ASX) Chart |