It could be the ones participating in the raise at 85c are selling down their existing shares to cover for the new shares. It could be expectation the above will happen so traders try to sell and buy back in cheaper. It could be both.
LLI just did a similar FTF raise and the sp is now just pips above Insto entry price. It’s just how market psychology works.
But i think the dilution advantage of FTF will not see this below the insto entry price like a normal CR, at least not for long.
It could be the ones participating in the raise at 85c are...
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Last
38.0¢ |
Change
-0.015(3.80%) |
Mkt cap ! $229.4M | |||
| Open | High | Low | Value | Volume |
| 39.0¢ | 39.0¢ | 37.0¢ | $589.2K | 1.554M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4300 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.5¢ | 26343 | 2 |
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| Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
| PMT (ASX) Chart |