My biggest concern is Tuesday after ex day ... expecting lots of traders and institutions to offload shares once allocation of rights issue is confirmed for their holding. typical sell off after any ex day...
so my question is, do you buy or accumulate tomorrow at current levels to get the 1:5 shares to reduce your entry price by 11~20% ( not forgetting that the rights issue shares will not be allocated for some time yet and anything can happen in this crazy volatile period in the world) or wait and try to pick up stock on the market during the selloff 11% lower ( based on entry at .028) ???
We still don't know how much we are paying for the acquisition .. that's the main card and its not being shown yet which is a bit of a concern as we are speculating without any true future value of the company.
If they are buying this company at a good price by all means its a good story, but ....we still don't know!!
100000o average entry .02 = 20000 $
+ 20000 @.012 = 2400 $
average price .018 c ( 20% discount )
1000000 average entry .028 = 28000 $
+ 20000 @ .012 = 2400$
average price .0253 c (11.7% discount)
Another question... any chartists wish to share some info on the current trend channels to us?... did we break out on Friday? from the 24th nov the general trend is still up I know ... but last 3 trading days are confusing me! Your help is appreciated.
PS Thank you everyone for all your inputs and the info on this stock , its been an interesting read and opened my eyed on some things I would have missed.
ODN Price at posting:
2.9¢ Sentiment: None Disclosure: Held