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84.0¢ zelira therapeutics limited

More room for credit raises too. I think its a nice tidy up.

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Bluesky80

243 Posts.

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12/03/22

13:56

Post #: 60154458
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Originally posted by RonaldMcdonald: ↑

It does seem a little excessive. If I were to hazard a guess I’d say there’s a few reasons they’re doing this:

1) They want the Zelira price around about that of other cannabis companies in the US for market perception

2) They feel that institutional investors will be more likely to invest in a $3 stock as opposed to a 1.8c stock (so long as the fundamentals are good)

3) Unsure what the delisting rules are for the ASX but this move could also be to prevent that as the share price has been on a constant trajectory south

4) Listing on the NASDAQ requires a share price to be above $1, I suspect they’re looking to list on that exchange along with other well known cannabis stocks

5) Finally, good old marketing. $3 says credible business, 1.8c does not and they may feel the current stock price isn’t a true reflection of the business value (I tend to agree).

I think it’s a move they had to make especially with new money poised to enter the market once US legislation passes.

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More room for credit raises too. I think its a nice tidy up.

ZLD Price at posting: 1.8¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 84.0¢		Change 0.020(2.44%)		Mkt cap ! $9.531M

Open	High	Low	Value	Volume
82.0¢	84.0¢	82.0¢	$110	131

Buyers (Bids)

No.	Vol.	Price($)
1	10	85.5¢

Sellers (Offers)

Price($)	Vol.	No.
89.5¢	1500	1

View Market Depth

No.	Vol.	Price($)
1	10	0.855
1	2884	0.840
4	2524	0.820
1	452	0.760
1	134	0.750

Price($)	Vol.	No.
0.895	1500	1
0.920	8264	1
0.930	2000	1
0.940	40000	1
0.950	8429	2

Last trade - 14.12pm 18/10/2024 (20 minute delay)

ZLD (ASX) Chart