Oversubscribed means they offered it at too low a price. And they diluted the rest of us more than necessary.
The new buyers churn for a neat 20% gain. Rinse repeat with another penny. Game of mates level stuff.
Meanwhile the rest of us have a ceiling put on the SP, and the momentum from the good news to come is soaked up for no actual benefit.
Strike 2. Or 3. I've lost count. Sentiment changed. Was planning to hold this for the long term, hoping for some dividends eventually.
Ann: Oversubscribed Placement Raises $2.95 million, page-14
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Last
0.3¢ |
Change
-0.001(25.0%) |
Mkt cap ! $3.715M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $988 | 329.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 18 | 26563675 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 8542667 | 14 |
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| Last trade - 11.11am 15/07/2024 (20 minute delay) ? |
| CTN (ASX) Chart |