Every CR usually places an attractive opportunity for anyone who wants shares, by it's nature. Most placements are underwritten by someone and that won't happen unless they a confident that there won't be much of a shortfall of offers being taken up.
Because most interest parties have what they want then there is a lack of buyers from the usual market operations. Just who is it that is going to enter the market and push the SP higher than the CR. As far as the institutions are concerned with any shortfall they may have experienced, Its more likely that they will step away and watch what happens to the SP and look for bargains.
On my chart in my previous post you can see that post CR at 52c that at a SP below 45c volumes were strong and got as low as low as 43.5. That's a real bargain.
SMN Price at posting:
48.0¢ Sentiment: Hold Disclosure: Held
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