My guess is that people were expecting the SP to rise to 40-50c...

My guess is that people were expecting the SP to rise to 40-50c off the back of the P3 news. However, the capital raise at 30c prevented it from doing so. I personally picked up an additional small parcel at 31.5c (current average is 25c). So see how we go haha.

IMO, this is good for the long term but not good for anyone who wanted a quick profit. Personally I’m surprised the capital raise was given at a price almost identical to the current SP. Usually they’re given at a premium discount.

So a large investor out there now has skin in the game at 0.30c. Gives confidence to the direction of the company.

Anyway, that’s just one theory. But since we are in the game of making money, usually the answer for peoples emotional responses on HC is due to something financially not going their way lol.