I suppose an upside to this is that there’s clearly nobody holding who values their position under 2.5c , meaning even though the raise was at 2.2c there won’t be much, if any, selling into that price.
Raise at 2.2c and exit at 2.5c on $4m raised generates 550k of wealth out of thin air, overnight. Not bad for having special access through a broker.
Especially given that we will have the HY results out early next week and I suspect that will be cause enough for institutional investment and HNWIs to come in and justify their re-rated price. Solid play, sweeps a few inconspicuous tactics under the cover of a HY…
ECS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
