Now i wonder, if they could not have sought truly sticky hands in a placement. Then why they would not have done a placement at 45c, we might still be trading there.
Yet for such a small amount raised, invites the destructive whirlwinds of emotion. Naturally the flip is in motion, and CR price is a give usually. Then the new lows, new despondents, new sells are triggered. Perhaps next time, CE should be actively looking for some placement from one of the many interested visitors over the last year, who will have sticky hands.
This cancelling of this Stupid SPP, of a lingering insult to all of us, is the first wake up to reality that the company understood the mood of the room. If they wanted more funds, it should have been with the ripping of the initial band aid at CR. Not a lingering wound.
We were trading in the 42-50c band, even that discounted from peers. But to invite the sheep trade with a scent of blood on it ? Not happy Jan, many a seller would have cracked.
While our bets of corporate remain, it is time that they actually started thinking about any CRs in terms of sticky hands, not slippery slopes. And sticky, should be those who see the bet on multiples from corporate bets. Not offering it to the wind.
Heres a world to think of CE. Escrow new placements.
WR1 Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
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