re: pre-open, placement $5.35 - jon1
Russian, it is fairly standard for placements to be done before an announcement is made to the market as the placement is only available to insto's and sophisticated investors. As I said in an earlier post, where the ASX has stuffed up with CMQ is that they allowed trading this morning which allowed people to short the stock ahead of the placement. CMQ and the ASX should have suspended trading as soon as they knew a placement was to be done.
Rivkin should be very p.ssed, he has been made a scape goat to cover up for the incompentency of ASIC. By getting such a high profile conviction they divert attention away from the fact that the market is anything but "fully informed" and both ASIC and the ASX are responsible for this failure.
CMQ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
