Ann: Completion of Share Purchase Plan (Appendix 2A), page-40

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The Whale1

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25/09/20

13:50

Post #: 47629571
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Originally posted by RagingBu11: ↑

From a TA perspective, if SPT can hold above $1.36 (floor price of a wide channel), it should bode well for the sp next week if markets remain stable to positive.

According to their ASX filing on 5Aug and the SPP booklet, the $10m(7.7m shares) SPP are tradeable today and i believe the $45m(34.6m shares) Tranche B Placement commence today as well. So naturally, there is a risk some portion of these newly issued shares will be sold today or soon after. However, i would find it hard to comprehend if any institutional investors would sell out now for a tiny capital gain. Instead, i take some comfort from the fact that Directors have committed more "skin" in the Placement to the tune of $1.8m in total with the same terms (see caption below - Pg2 second paragraph of ASX filing).

Therefore i see $1.36 as my key TA support line and $1.30 as the backstop IMO. I could be completely wrong but now that this $10m SPP/$90m Placement corporate action is over with the main focus will be on the Fundamentals - barring another market correction.

From a FA point of view. Put simply, the business is in better shape than 18 months ago when they hit $2 back in March2019 not long after their IPO. In can only get better from here on.

All the best.

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I honestly dont see how TA is relevent at all to BNPL stocks. Their movements are wild based generally on hype, external announcements and build ups to internal announcements. Without continued positive announcements, all BNPL stocks other than APT trend downwards.

SPT Price at posting: $1.37 Sentiment: Hold Disclosure: Held
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0 Great analysis

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