A company's share price tends to fall after announcing a cap raise, but only when the cap raise is at a discount. A truer statement would be that a company's share price tends to move towards the price at which capital was raised. In this case, that is up.
Which doesn't bode well for your strategy.
Having said that, I thought that MZZ price would fall back after initial enthusiasm for the announcement, but it has actually performed rather strongly.
Ann: Placement raises $8.7 million, page-47
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Last
4.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $23.67M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 21739 | 4.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.5¢ | 257000 | 2 |
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