"I spend a year researching this business, doing due diligence, meeting and talking with many different stakeholders.... and then I am going to jump ship because of a very badly executed capital raise?""
Just my observations on this. The first part sounds dangerously close to 'sunk cost fallacy'. The irony of the second part is that to my mind, the correct answer to this question should be a resounding: yes. Anyone who read the tea leaves (with the involvement of SS and Evolution Capital) will have been left in a much better position had they sold at open (or shortly thereafter) rather than continue to hold till now. @TenX I know from your comments on Twitter under your other handle, that you / your colleague have been speaking to VR1 management, which is great - hear it from the horse's mouth. Unfortunately its not exactly uncommon for ASX microcap management teams to put a positive spin on absolutely everything, even when it's not the case. I for one could not believe that any cap raise run by Evolution Capital could possibly bring long term institutional investors onto the register. The proof is always in the pudding and the pudding is now out of the oven.
As a general comment for the thread followers: not everyone on HotCopper with a pessimistic opinion is here to "downramp" and "buy shares lower" and all the usual rubbish that gets thrown around here. Sometimes there's a genuine attempt to pass on lessons learned to other investors. I attempted that here: https://hotcopper.com.au/posts/57949479/single.
All the best. I will continue to watch this one with interest; sometimes the best lessons are the ones you learn at arms' length, without having to put any money on the line. Anyone on HotCopper who thinks only holders can/should post their opinions on a stock, will not understand this simple but powerful lesson.
Cheers
VR1 Price at posting:
14.0¢ Sentiment: None Disclosure: Not Held
