Seriously, I think that all that has happened is that instos have bid for far more stock than they actually wanted, in the expectation that there would be a heavy scaleback. The scaleback was much smaller than originally anticipated, which has meant that a number of people have significantly more stock than they really wanted, which they are now putting into the market.
The good news is that they are all in at $4.05, so I don't think that anyone is going to dump into the market at a price much lower than that.
The other good news is that this is going to make the market in our stock much more liquid.
Some other good news is that this is all completely disconnected from the fundamentals, which have gone from "promising" to "even more promising".
The bad news is that if (e.g.) $50m of the $120m that was raised is actually an overhang, then Silex stock is probably going to remain depressed for a few weeks.
NOW is an excellent buying opportunity, and if anyone thinks that I'm just ramping: attached is a screenshot of the bottom half of a contract note for the purchase of almost $1.2m in stock yesterday.
SLX Price at posting:
$3.98 Sentiment: Buy Disclosure: Held
