Considering that historically the SPPs have been over-subscribed, this one has failed to even raise what they set out for. This is a pretty grim reflection of the market sentiment. @Goodfella58 was right when he said the acquisition was just a sideshow to justify another cap raise. What would they have said otherwise? "We're raising cash for gross national happiness and posterity" ?
What happens when the CRs fail to raise cash for a business burning through funds at an alarming rate? A business who relies almost entirely on selling shares? I'll let you work that out.
There was plenty of potential here for shareholders, but they filled their pockets (and family member's pockets) so brazenly that they destroyed all hope for everyone.
Considering that historically the SPPs have been...
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Last
$1.46 |
Change
-0.035(2.34%) |
Mkt cap ! $1.644B | |||
| Open | High | Low | Value | Volume |
| $1.50 | $1.54 | $1.45 | $19.96M | 13.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 104211 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 50000 | 2 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |