This is shocking. The SP has dropped 1/3 just weeks after capital raising. I was very concerned that the pump never happened in the final days leading up to close of CR. I was expecting a pump to 10c or 11c so the CR would be subscribed. Underwriters nearly always successfully get a good PR campaign going leading up to a CR. Demonstrates how tough it is, even for professionals, to polish a turd.
The worse thing is the only people who got burned were the existing shareholders that had already been burned. LYC preying on the irrational faithful. Who is left to sell this to?....especially now there are 3+ billion shares. How do you maintain the SP with such volume out there when management themselves only have a forward plan to get to breakeven....ie. no profit. and most people think that's a stretch?
The AGM will rightfully be angry....but hows that going to help?
This is shocking. The SP has dropped 1/3 just weeks after...
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Last
$8.09 |
Change
0.070(0.87%) |
Mkt cap ! $7.561B | |||
| Open | High | Low | Value | Volume |
| $8.15 | $8.27 | $8.08 | $35.31M | 4.353M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7192 | $8.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.10 | 4833 | 2 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| LYC (ASX) Chart |