No, you said retail investors didn't want to buy it at $3.65, so QAN dropped the price to $3.18. I read your post again and couldn't draw an inference that that is what you were pointing out. Sorry if I indeed misread it.
I do get your points though.
At that time, the pandemic was in full swing and global markets were in absolute turmoil. We're still suffering the effects of all the quantitative easing now. So, in a vacuum, yes it's absolutely absurd to do a capital raise at $3.18 and a buy back $2.50 higher up - but when you reinsert all the events and uncertainty at the time and the reality now, the wider picture becomes clearer.
The market only cares if a company is making money.
Many punters who believed the stock market is rigged and run by fools went into FTX. The next house of cards is Bitcoin.
Ann: Qantas Group Market Update, page-35
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Last
$6.37 |
Change
0.050(0.79%) |
Mkt cap ! $10.37B | |||
| Open | High | Low | Value | Volume |
| $6.32 | $6.42 | $6.18 | $42.84M | 6.778M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2500 | $6.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.39 | 48823 | 8 |
View Market Depth
| Last trade - 16.10pm 29/08/2024 (20 minute delay) ? |
| QAN (ASX) Chart |