Was thinking about this accumulation theory. I reckon it's rubbish.
So Norwood are now on a drip feed of capital from various institutions. Let's assume a price of 1c for NOROA to make calculations easy as a discount off the heads.
Octobers $200k raise was at 2c (3c-1c), December at 3c (no options), and this raise was at 3c.
Now, it's plainly obvious that Norwood are going to continually go cap in hand to the sophis, and the sophis will get a discount off market of anywhere between 30 and 40%.
Why oh why would you bid the price up for a start by accumulating, and why would you buy at market when you know you can buy through a placement at a massive discount?
If the goal of instos is to get stock, you wouldn't accumulate on market and there simply aren't enough interested instos to suggest there is competition between them for stock. So who knows what their motivation or goal is.
NOR Price at posting:
4.9¢ Sentiment: Sell Disclosure: Not Held
