yeah its frustrating, but when you consider it from a neutral POV, it is actually positive
you know there's big money interested in this at higher prices already - millions of shares traded above 27c before the cap raising. like i previously said, they did not wait to test the broader market and would have been simply concerned with grabbing a suitable sized parcel. as the zombie sellers saw the price rise and saw the opportunity to unload their shares, they did - why would a buyer hold up a market if they know there are stale sellers who will put pressure on the SP. let them sell, drag market down and then pick up any further allocations at a discount.
are some of the buyers from the CR dumping into market? no doubt. but again, as previously mentioned, when you look at the IRR of making 4% gains over 1 week, its massive, and you can't blame instos for taking a free profit. remember, they did DCC a service by allowing Zhenya to raise funds in a matter of days meaning he has no delays in funding the S.America startup. if he had come to shareholders and retail for money, he would potentially have to wait weeks or months to get the full process rolled out. that would have been a fatal mistake in a fast moving tech disruptor sector.
so just sit tight, you can see the strong buying support anywhere slightly north of the CR which is very promising. when the CR sellers exhaust their allocations and new announcements come in future weeks, we should see a serious rerate, in my opinion.
DCC Price at posting:
23.0¢ Sentiment: Buy Disclosure: Held
