No pity from me for the insto's jeeper. The underwriters will have done their best to discount the bejesus out of the rights issue and placement. The underwriters don't care about existing shareholders and they leak like hell. I know as I have witnessed them through a placement.
The board were meant to be looking after our interests as shareholders and it seems to me they fell asleep at the wheel.
The comprehensive and consistent sell down of the stock has been going on for two months - not sure but the stock may have been shorted with people knowing a placement and rights issue were being undertaken.
Fundamentally still a good stock but the half year result got lost in the acquisition news and capital raising. The timing has been awful.
No pity from me for the insto's jeeper. The underwriters will...
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Last
$2.62 |
Change
-0.010(0.38%) |
Mkt cap ! $993.0M | |||
| Open | High | Low | Value | Volume |
| $2.63 | $2.64 | $2.60 | $11.61M | 4.428M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 22376 | $2.62 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.63 | 779808 | 5 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| MRM (ASX) Chart |