Shorters would be happy too as they can take their massive profits into the new tax year.
A deal to keep the company afloat will not stop the sp from falling. There is possibly a debt/equity swap coming at a very low sp and a lot of debt. There will potentially be an additional 1 billion plus shares being issued. Based on your valuation what is the company worth per share if there are 1.5 billion shares. 40c, 50c, 75c or $1? Put differently should the market cap be $600m, $750m, $1.125b or $1.5b.
At 50c ($750m) would give it the highest market cap the company has ever had. And then they still need to prove they can generate cash profits.
The sp may go up when QIN re-opens as shorters cover but it will not stay above 30c long.
QIN Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
