And this posted by Gaurav on the II comments section. Looks like a company where the share price is dropping because the market thinks it's about to delist either way with minor shareholders left with nothing. People getting money out as they think they won't be able to soon!
"They aren't running out of cash, a hedge fund is buying up the public debt trying to force the company into administration. If that happens, the hedge fund could pick up the assets on the cheap and keep the upside post 2027. It's a clever strategy that is only possible because of the dire situation management has led the business into.The major shareholder is trying to find funds to take the business private so it's a battle at the moment."
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Last
13.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $217.9M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.5¢ | 13.0¢ | $178.4K | 1.365M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 112853 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 4238864 | 45 |
View Market Depth
| Last trade - 10.50am 25/06/2025 (20 minute delay) ? |
| CRN (ASX) Chart |