I thought the same as i posted the other day, thats why i took...

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Supraman

251 Posts.

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23/02/24

08:51

Post #: 72551402
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Originally posted by Scooty: ↑

The last quarterly was Dec 2023 and the company stated they had sufficient resources to carry out its planned activities for FY2024, so although a good (great) time to raise, it’s still a controversial decision due to the company’s most recent quarterly basically saying it was not necessary.

I said before I was dubious that it ran hard as long as it did on no material news to the market, so was happy to take a price and sit in the grandstands to watch for a bit.

Im really hoping that the raise is a little more inspiring than a “working capital” raise given that last quarterly, as I think the SP will be punished for it if it’s not a big deal landing. There’s no doubt a lot of new investors YOLOd into this purely off the charts and they’ll want to get out quickly to preserve capital themselves.

Companies need capital but there’s no stepping away from the fact it often reopens sub the CR price and the concern for me is what underpins the market valuation other than the exuberance of investors?

Im giving the company some respect on how they’ve operated in the past and expect the announcement tomorrow to be more than a working capital raise.

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I thought the same as i posted the other day, thats why i took my money of the table to see how it played out.

ARR Price at posting: 42.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 23.0¢		Change -0.020(8.00%)		Mkt cap ! $113.4M

Open	High	Low	Value	Volume
24.5¢	25.0¢	23.0¢	$92.59K	387.9K

Buyers (Bids)

No.	Vol.	Price($)
2	10620	23.0¢

Sellers (Offers)

Price($)	Vol.	No.
24.0¢	116000	1

View Market Depth

No.	Vol.	Price($)
2	10620	0.230
12	291149	0.225
13	249496	0.220
1	150000	0.215
2	110000	0.210

Price($)	Vol.	No.
0.240	116000	1
0.245	124209	3
0.250	27889	2
0.255	22793	3
0.260	12840	1

Last trade - 16.10pm 24/06/2024 (20 minute delay)

ARR (ASX) Chart

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