I wouldn't say the share price is about to fall. The underwriter now has to find a home for $65M worth of shares. It benefits no one, especially them if they dump them on market. They need the price now to hold at >$2.30 or they lose money (their fee was $10M).
They may look to feed 1M shares per day as not to affect the floating price. But my guess is they would have hit the phones Monday when they saw how much had come in. To see what further interest from institutional investors there is, given there placement was fully subscribed. And transfer them off market for $2.30. $65M is not a lot money in those circles.
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I wouldn't say the share price is about to fall. The underwriter...
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$6.07 |
Change
-0.190(3.04%) |
Mkt cap ! $5.687B |
Open | High | Low | Value | Volume |
$6.14 | $6.15 | $6.07 | $19.13M | 3.060M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
14 | 17837 | $6.07 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.08 | 15974 | 35 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 18735 | 6.070 |
12 | 39712 | 6.060 |
18 | 65437 | 6.050 |
10 | 14483 | 6.040 |
9 | 89496 | 6.030 |
Price($) | Vol. | No. |
---|---|---|
6.080 | 12271 | 17 |
6.090 | 21590 | 37 |
6.100 | 38940 | 30 |
6.110 | 44843 | 17 |
6.120 | 42697 | 13 |
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