It’s pretty simple here.
Insto placement was over subscribed. $55Mill raised at 30c. Do you think the so called smart money is into throwing money away?? I don’t think so. So this means the SP will be north of this in the future so if you can buy under then it’s a steal.
You may ask why has it fallen. Well the drop is due to brokers. You only need to watch the daily trades to see the typical pattern. So why have they dropped the SP below 30c??? Well the insto placement was over subscribed and guess what happens if there is a retail shortfall. Yep that’s right, the company has the right to place the shares within 3 months. Perhaps the instos want a bigger piece of the pie and don’t want the retail to take up their allocation. Fine by me. I’m buying on market. Might flatline until retail offer is closed but my thinking is the company will get their funds one way or another and happy days ahead.
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Last
$1.13 |
Change
0.035(3.21%) |
Mkt cap ! $1.284B |
Open | High | Low | Value | Volume |
$1.09 | $1.13 | $1.07 | $3.910M | 3.535M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 27197 | $1.11 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.13 | 43578 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 31763 | 1.100 |
2 | 33264 | 1.090 |
2 | 18897 | 1.085 |
2 | 18926 | 1.080 |
1 | 18000 | 1.075 |
Price($) | Vol. | No. |
---|---|---|
1.130 | 23400 | 3 |
1.135 | 1090 | 1 |
1.140 | 65000 | 4 |
1.145 | 64500 | 3 |
1.150 | 92314 | 9 |
Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
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