Unfortunately when you do a raising with the stock going nuts, it makes it very hard to put a value on the shares. IMO the raising shouldn't have been even contemplated until the stock showed some level of stability?
I know it's easier said than done, but what SFR has effectively said is that the stock is worth A$1.20!! Obviously the market has disagreed in the interim (going north of $2) but that's where its heading back towards now(hopefully won't get there being a rights issue). On the plus side it puts over $11.5 million in the tin and lets SFR get on with the business at hand.
We'll see what happens next but need some more good news to get renewed upward momentum? Maybe this is the correction we had to have?
Finishing at A$1.69 today is not too good, but it will 'wash' out in time especially on the back of more results!
Good luck for tomorrow!
keep the party going!!, page-47
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Last
$8.55 |
Change
-0.040(0.47%) |
Mkt cap ! $3.910B | |||
| Open | High | Low | Value | Volume |
| $8.66 | $8.92 | $8.50 | $16.92M | 1.952M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19549 | $8.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.55 | 40367 | 4 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| SFR (ASX) Chart |