Am I the only one that was under the impression things were going to be much worse with all the speculation over the weekend?
The SP looks to be holding at very reasonable levels as of noon and is in fact slowly gaining ground since morning.
The placement was made at the ceiling price $3.20, and they used words such as "pleased", "significantly oversubscribed" and "delighted", concluding the matter in a rather upbeat fashion.
Haven't read in detail any broker or analyst updates, but the management seems to be willing to have a more defensive approach to expansion and focus on organic growth/debt instead. So even if they updated with a ~3% dip in occupancy, the market appears to be reasonably content with the fundamentals and the turn of events regarding the placement.
I, as a shareholder, certainly am relieved from the first reaction. Only question is whether any of this matter may compromise the dividend yield, but I couldn't find any comment on it so I suspect it's going to remain at $0.06.
Reasonable market response
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Last
$1.24 |
Change
0.015(1.22%) |
Mkt cap ! $1.003B | |||
| Open | High | Low | Value | Volume |
| $1.22 | $1.25 | $1.22 | $734.8K | 593.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 58395 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.24 | 1287 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| GEM (ASX) Chart |