Well, it sounds like these convertible notes are basically like store credit for one stock.
So, if I had $10m to spend on shares in the one company, I would convert when I thought the shares were at a rock-bottom price.
I would be stupid to do anything else.
It seems to me that anyone who is surprised this has happened must have just not known about the convertible note.
My personal preference would be debt to dilution for funding, and that is what has been happening since the share price has declined.
I also don't think it is likely that the company getting these shares is at all involved in manipulating the share price. They would be risking far more than they could gain. The recent price fluctuations that appear to be due to shorting are only ever moving the price a bit each day, usually within the same range.
Well, it sounds like these convertible notes are basically like...
Add ADY (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.1¢ |
Change
-0.001(8.33%) |
Mkt cap ! $17.92M | |||
| Open | High | Low | Value | Volume |
| 1.1¢ | 1.1¢ | 1.1¢ | $11.94K | 1.086M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000000 | 1.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 400000 | 2 |
View Market Depth
| Last trade - 13.26pm 19/07/2024 (20 minute delay) ? |
| ADY (ASX) Chart |