So todays selling is likely from current holders to get cash to buy half their shares back cheaper through the their entitlement which they retain even after selling today. Makes sense to me. And when they get their entitlement shares at 26 cents they will likely sell those also for say 10% profit. Would make sense also.
So when do the shorts start to cover?. Today? Or do they wait until just under 500m new shares are issued at 26 cents become available on market? Does my head in trying to work out the games going on in the market.
Entitlement Offer record date Thurs 27, page-55
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Last
$11.66 |
Change
-0.170(1.44%) |
Mkt cap ! $3.487B | |||
| Open | High | Low | Value | Volume |
| $11.80 | $11.89 | $11.49 | $34.10M | 2.930M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10 | $11.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.67 | 6642 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| PDN (ASX) Chart |