New shares due to hit the market this week, any predictions on what effect this will have, if any?
Historically share prices have dropped to somewhere between their CR price or between the CR price and historical average. I think it'd only get down to $1.70 (the CR price) if a lot of either desperate investors cut-and-run (because they need the money or are feeling nervous) OR really long-term investors decided to take a profit (we're talking 2011-era LT investors, when the price was last below $1.70)
More likely it'll hover above that, although some people who picked up the retail offer may be happy to make a quick buck on that portion of their purchase (around 30% if they sold this morning) and so depress the SP this week. I'm calling around the $2 mark. If it gets down to or below $1.70, it's certainly a buy.
WEB Price at posting:
$2.50 Sentiment: None Disclosure: Not Held
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