WOW! Obviously some instos are very upset for being snubbed by Mr Goodman they have decided to vote with their feet selling it down today. I'm sure they expected a 1 for 1 capital raising that they could participate in instead of a free ride for the millionaires factory.
It was this deal with MQG or a 1 for 1 capital raising underwritten at 20 cents with a 5% fee raising 400 million. I am still happy with the decision taken even though i stupidly bought more at 29 cents before rushing out for the day.
New buyers will step in and take out the dumpers in the next few days and the share price will head back up like nothing ever happened. Just another opportunistic time for me. I will hold what i have and look to add some more when the dust starts to settle.
Broker reports will come out tomorrow will be interesting to see what they have to say!
GMG Price at posting:
21.3¢ Sentiment: None Disclosure: Held
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