Wonder if there's an escape clause in the SPP that enables SIs to bail if the sp is a certain % below 3.2cents?
Noticed short positions jumped again on the same day as the Cap Raise was announced on 26/7. Someone expected the sp to fall.
If ADO have something valuable to sell, and by all accounts they do, now would be a perfect time for a takeover offer with the sp at a yearly low and a cap raise that might struggle to gain universal support.
ADO Price at posting:
2.9¢ Sentiment: None Disclosure: Not Held
