Trading has been very odd, especially after the very average quarterly.
Lack of decent commentary also showed that CEO has nearly checked out.
But the share price is very odd as Mike points out.
While there are technical reasons for it, what might be happening in the background might be more interesting.
NXS needs the share price above the convertible note price, so they can let Lang convert his $10m to equity (wondering if he is questioning that after the quarterly though!!) and then they can offer shares to existing holders at a discount and save face.
Given they burned $3m this quarter, grabbing another $5m from shareholders now probably makes sense.
Trading has been very odd, especially after the very average...
Add NXS (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
27.5¢ |
Change
0.010(3.77%) |
Mkt cap ! $80.21M | |||
| Open | High | Low | Value | Volume |
| 26.5¢ | 29.5¢ | 26.5¢ | $62.37K | 226.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2456 | 27.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 28.5¢ | 75660 | 1 |
View Market Depth
| Last trade - 15.39pm 04/06/2024 (20 minute delay) ? |
|
|||||
|
Last
27.5¢ |
Change
0.010 ( 3.77 %) |
||||
| Open | High | Low | Volume | ||
| 25.5¢ | 32.0¢ | 25.5¢ | 29850 | ||
| Last updated 14.39pm 04/06/2024 ? | |||||
| NXS (ASX) Chart |