sellers are relentless, page-36

Sandz, I think it's more because the market barely ever responds well to dilution. Once the instos dump at a slight profit, panic sets in and everyone with a short-term strategy locks in profit before capping can begin.
Almost every CR I've seen has had the sp drop comfortably below the issue price in the short term..

I bought into MEO for art, because petrobras would not have pumped so much money into a project with half-baked research. The geography is good, and if petrobras were confident in success I trust their judgment enough to take a punt.

Today was hit mega hard but the opportunists will imo now swoop in to restore a bit of calm... either tomorrow or the day after I believe we will see a short term bounce to around 50c.