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I think you forgot that if you add $19 million cash to the...

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Contrarian4me

392 Posts.

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15/08/22

18:00

Post #: 63125579
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Originally posted by Rayda: ↑

@Grab

Seriously shorters, you need to understand the concept of market caps first off, you cannot add 12% more shares and expect the share price to stay the same otherwise the mc increases by 12% on fundamentally no new value adding news, as in this case, the very brief announcement does not really add value, only when they execute on some of the rehetoric will value be seen.

Invariably the issue price becomes the new sp value in the short term, that is just the way it works, I am sure there is a little person that lives in the ASX who sole job it is to sell share to bring market caps in line, don’t know who coordinates it but it almost always happens for these types of cap raises, the exception can be for cap raises to fund a strategic purchase that the market thinks adds considerable value.

As for shorts, check out shortman.com.au and you will see that there are almost NO shorts held as of 5 August, 4,871 out of 407,830,958 SOI.

Just my thoughts

Rayda

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I think you forgot that if you add $19 million cash to the company from a capital raising, all other things being equal, the market cap does technically increase by $19 million without any new information.

CAI Price at posting: 68.0¢ Sentiment: Hold Disclosure: Held
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