CCP is an extremely risk-averse company, and I too thought that there was a mixture of panic and FOMO behind managements rush to raise capital at such a low price, and I thought the panic was misplaced. The panic fits into the sky-is-falling box. The FOMO bodes well for the stock, and I put that into the seize-the-day box.
I do not like institutional placements of shares to be given precedence over existing shareholders - to my delicate nose it has a whiff of malfeasance (perks for the well-connected) about it. The huge SSP oversubscriptions in this case and the previous one is evidence that existing shareholders would have been happy to have contributed the capital themselves.
CCP Price at posting:
$17.89 Sentiment: Buy Disclosure: Held
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