Well, nothing to see here just another day where the big boys, management, and the institutions have the last laugh. Management gave their institution pals $120 million to help payout their lucrative bonuses at $12.5 a share and have inflated the price to nearly 80% within a month before they issue retail shareholders their own minuscule shares creating a sense of FOMO when retail receive their scaled back cash. Planned to perfection, as retail shareholders $100+ mil earns interest in their trust account as they gave a month between institutional and retail placement and a week from the announcement of scale back to issuance.
Disappointed at myself for not reading between the lines and forecasting such a large scale back but I guess the onus has to be on both the investor and management who lacked transparency in this placement and did not provide shareholders a rights issue instead of a non-renounceable placement. Having had to liquidate my other shares who have seen a massive rally in their own share price and to lose 1,000's while my 30 K wonders in their beautiful trust account is a good spit in the face and has been a costly lesson in opportunity cost that I have had to endure.
Sorry to sound trite but I guess I am not the only one.
(20min delay)