Hi Rossi
RAC is certainly on a bull run based on any TA metrics, and you know I like TA. But right now I'm avoiding the charts as right now DrT is offering FA discussion that's far more significant.
Consider from yesterday.
Drt .... "I would not be surprised that RAC may well be one of those rare companies that rallies after a capital raise. The major concern expressed speaking to many investors about RAC is not the strategy, potential of Bisantrene, or management, but the cash position. Let's say a large cornerstone “smart money” investor were to come in at a premium (or minimum discount) then how would the SP react? What would a RAC cashed up to fund the 5 path strategy be valued by the market? I have a feeling that it would be far higher than last Friday’s closing price."
It interested me (starting a couple of weeks ago) that the share price was nearing the strike price of the expiring 30c options (expire today) so if the option holders were to inject $1.8m to exercise those options we might have the scenario DrT notes above. And I understand (from HC discussions) the option holders may be the consultants who assisted with the FDA Priority Voucher which could be worth a minimum of USD100m. (Anyone - please correct me if wrong.) Therefore should the option holders exercise at 30c it may suggest they see the chances of a voucher as high and the company worth closer to (at least) USD100m.
That's the big news right now - today's options expiration with the owner of those options paying 30c for a share they probably think is worth a minimum of AUD1.50. It's a long shot and it's all just piecing together pieces of the puzzle but it's good to be long and not worried about the daily chart right now.
(If so 50c will just be like a hot knife through butter resistance. The market will love it - watch the chatter on HC today. I'm not reading posts today as I want to be unemotional about this and want to avoid selling here at any cost - it's just a start either way.)
Regards
Hi RossiRAC is certainly on a bull run based on any TA metrics,...
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Last
$1.31 |
Change
0.020(1.55%) |
Mkt cap ! $217.2M | |||
| Open | High | Low | Value | Volume |
| $1.31 | $1.31 | $1.26 | $71.25K | 55.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 200 | $1.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.31 | 5950 | 3 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$1.31 |
Change
0.020 ( 2.18 %) |
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| Open | High | Low | Volume | ||
| $1.30 | $1.31 | $1.26 | 10789 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| RAC (ASX) Chart |