top or bottom thursday, page-19

BiggDaddy is back in......everyone sell your holdings quick :-)

This is not on topic, but I wanted to share and the thread is quiet.
One of my favourite stocks of the last number of years was ASB, Austal who hold design IP and build ships for the US Navy with a current order book of 2.3bill.
So I was disappointed when the stock went under $2 and just seemed to keep sliding. I eventually got out around 1.70. It kept sliding all the way to 1.25 and then last week, it dropped 20 odd cents in half an hour at the end of the day to finish at an incredible 1.02. Then they went into a trading halt.
Today they have announced an 85m CR offering a 9 for 10 non-renouncable. Almost 50% dilution. And guess what the absolutely amazing price is......50 cents! That's right, I typed 50 cents!!!

I cannot believe it. They are doing it to raise a small amount of money and pay off some debt.
Gobsmacked!