I got my fingers burnt today!
I couldn't understand why the shares were falling so much and I forgot all about the rights issue. If people are getting a lot of shares tomorrow at 5 cents and piece and the market price is around 8 cents, that is a 60% premium and some people are bound to take the 60% return on their investment and do a runner.
Anyway, I am taking a wait and see on OEL. Too much risk at the moment. The market depth was shocking today, it plowed through those buyers orders like butter. Investors see too much risk at the moment with the effect of dilution and extra shares being traded, and rightly so.
Is it purely coincidence that Po Valley should be drilling at the same time the shares come on board so the share price doesn't fall as much?
taking the wait and see approach
Add OEL (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
1.2¢ |
Change
-0.002(11.1%) |
Mkt cap ! $57.54M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.3¢ | 1.2¢ | $133.2K | 11.09M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 3598272 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 2963306 | 4 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
|
|||||
|
Last
1.2¢ |
Change
-0.002 ( 7.69 %) |
||||
| Open | High | Low | Volume | ||
| 1.2¢ | 1.3¢ | 1.2¢ | 1265776 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| OEL (ASX) Chart |