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.
A great example of retail investors getting screwed up by...
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Last
$1.30 |
Change
-0.055(4.07%) |
Mkt cap ! $937.7M | |||
| Open | High | Low | Value | Volume |
| $1.37 | $1.43 | $1.26 | $28.36M | 21.14M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 39568 | $1.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.30 | 41597 | 3 |
View Market Depth
| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$1.30 |
Change
-0.055 ( 3.59 %) |
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| Open | High | Low | Volume | ||
| $1.37 | $1.43 | $1.26 | 4966243 | ||
| Last updated 15.59pm 06/06/2024 ? | |||||
| DRO (ASX) Chart |