this is why CRs and doom and gloom talk by retail holders always make me laugh. IF it is a given that price will tank and fall back to the CR price, why would instos, family offices, SIs commit funds last week to a 5c price however do not receive their shares until the 3B is usually released . so now they are at the mercy of the market and the retail holders, (so who is in the power position really and doing all the selling?) as we can see today saw a close of 5.6c so at the moment $3.75M of funds are only up 10% hardly worth the risk of commiting that amount of money last week is it? unless of course those that do take a different approach to retail and view the fundamental and long term approach of where this company is going.
such risk for small gain you can see why many dont go into CRs for the quick flick, if you analyse broker codes afterwards you will find it is rarely out of the same broking house that was doing the raise. It is a perception the market believes and the herd will gravitate to. Its short lived by the small hot money (only $280k today) and then they get swept when the long term big money comes in to price.....classic transfer of wealth..
This is what i find interesting from a psychology view point........
if people are so concerned at a group of people getting 5c shares when it is 6.2c then why were posters not jumping up and down and selling or not buying or doing whatever song and dance they are doing now, when the price on the day of 19th July did 100M shares at 3.5c (~ $3M)......yet people were so willing to buy over and above that day trading price in fact bought it to 5c and then bought it to 9c a few weeks later......
EPT Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
