Thoughts on what is going to happen tomorrow morning when this recommences trading? ASX has been an absolute bloodbath the last two days, especially at this end of the market.
After some thinking, here's what I reckon and I am curious for other's thoughts If it is a small CR, say $10-20m = good sign management believe they will be profitable shortly and this is more a "stop gap" for working capital etc. My sentiment BUY and I will look eagerly for an entry. If it is a large CR, say $50m+ = bad sign management do not have a handle on their investing activities and costs involved (considering they said "Stage 1 fully funded" after the loan, then again after the $1 CR so there is some basis) and I can't be confident this won't happen again, so I will watch from the sidelines.
WMC Price at posting:
56.5¢ Sentiment: Buy Disclosure: Not Held