I agree jogo
There are many sophisticated investors whose mode of operation is to take large licks of discounted stock in placements, then flip the new stock straight into the market at a small profit.
Repeat and repeat. Its a system.
The brokers like these sort of traders as they provide the quick and reliable access to risk capital to facilitate quick capital raisings.
Its a symbiotic relationship.
The brokers make money by getting quick placements done for a 6% fee.
The investors make money by getting discounted stock.
So who loses?
The incumbent shareholders, that's who. Because their share price is hurt by the new stock dilution at a discounted price.
The only way to beat this part of the ASX 'system' is to join the crew by aligning yourself with a broker to get access to placements.
Otherwise move on and make your money in another way.
Gosouth
SYR Price at posting:
$2.46 Sentiment: None Disclosure: Not Held
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