Lawrence, that is a pretty good summation, and I'll mostly go along with that, but I think the prices will be a bit higher. By the time people get their entitlements and get scaled back, our price is likely to be a bit higher, just based on yesterday's announcement, so probably in the 70's already or a frag higher.
Also as well as the sellers, there are those that will use their refund cheques to buy more PLS on market, so it could negate a bit of the selling.
Most of the people in the email group taking up their full entitlements want the shares. If that is a cross section of the general holder, then there may not be any pull back, other than orchestrated by sophs, funds etc to buy more. They may find out the hard way that people want more shares and will not be scared out of them.
So any retrace might be to the high 60's low 70's, given a higher SP by then.
SPP effect on SP, page-9
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Last
$2.89 |
Change
0.040(1.40%) |
Mkt cap ! $8.703B | |||
| Open | High | Low | Value | Volume |
| $2.78 | $2.89 | $2.78 | $29.90M | 10.51M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 39193 | $2.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 73947 | 7 |
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| PLS (ASX) Chart |