A lot of holders have been burnt badly on this stock which is a...

A lot of holders have been burnt badly on this stock which is a terrible thing. anyone who has been in the market for a reasonable amount of time would have most likely experienced this at some point. An unloved stock gets sold off heavily, CRs at a discount on top of that don't bode well for the SP. I have personally found these to be the best opportunities for entry. The blood is in the streets. They are often risky trades/investments, but you know what they say about risk...

Theoretically, this stock is at all time lows and trading at 10c below an underwritten 40c raise, Macquarie will likely end up with the lot, IF they want to bail out closer to the CR price there could be a 30% trade in it from here, but it also begs the question of why they underwrote it in the first place. perhaps they believe it can be turned around... in an ideal world that would be the case... time will tell. Others have stepped in and been accumulating at these levels with substantial holder announcements nearly daily.

I have entered at these levels, I tend to focus on the technical side of things. The enormous drop in SP after the CR announcement was what alerted me to this stock and some further reading made it seem like an interesting opportunity. The chart is sitting in grossly oversold territory, the only other time I can see it close to this level it traded from $3 - $5 (comparatively 30c - 50c) there are also some big looming gaps in the chart on the way down, there will need to be a big turnaround for this stock to fill those gaps, perhaps wishful thinking on my part... (maybe Macquarie too)


Who knows where to from here. The banking saga isn't helping. I honestly feel for those who are feeling pain from this stock (maybe I will be joining you?) I lost around 60% of my portfolio in march 2020 but have managed to recover that since and then some, I wish the same for you.