Ann: Trading Halt, page-235

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elpassive

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31/07/24

22:17

Post #: 75015393
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Originally posted by TerribleTadpole: ↑

"the price went up post the raise by about 300%" – you haven't managed to put it together yet? Let me explain it very simply, step by step...

DroneShield did a massive, completely unnecessary capital raising that placed $100 million worth of shares with institutional investors.
Suddenly... mysteriously... brokers, journalists, and social media pundits start publishing insanely positive articles mentioning DroneShield, causing a lot of rather silly retail investors to pile in without doing sensible research. We had never seen that before the capital raising.
Equally suddenly and mysteriously, a negative article gets published and republished and lot of shares get sold into the hype created in step 2.

I directly blame the stupidity of the board in creating this completely unnecessary volatility. The right way to do that (and this) capital raising would have been:
Decide whether it's necessary (because it wasn't).
Provide a proper capital allocation plan, as is warranted by the amount of capital being requested.
Offer a share purchase plan to existing holders for the whole amount with renounceable rights so those that don't want to take up their entitlements can sell to those who do, and new investors can acquire the rights on the market if they want them.

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the tadpole is always right
DRO Price at posting: $1.39 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 79.8¢		Change -0.013(1.54%)		Mkt cap ! $706.4M

Open	High	Low	Value	Volume
81.0¢	82.0¢	79.8¢	$2.799M	3.462M

Buyers (Bids)

No.	Vol.	Price($)
15	107293	79.5¢

Sellers (Offers)

Price($)	Vol.	No.
80.0¢	78502	17

View Market Depth

No.	Vol.	Price($)
55	353578	0.800
18	140537	0.795
31	326594	0.790
11	229079	0.785
48	628799	0.780

Price($)	Vol.	No.
0.805	57235	20
0.810	260927	20
0.815	349556	16
0.820	460113	20
0.825	79986	9

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Ann: Trading Halt, page-235

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Ann: Trading Halt, page-235

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