Aussierat, in principle I agree with you. But oppie holders aren't computers which can react to any changes in a split of a second. Humans need some time to adjust, holders need to adjust to a possible conversion. ATM, it is accepting a loss and no $ for CHK. If the oppies would have been in the money for a while those willing to convert would have organised the money by either using new funds or selling heads. Imagine the sp rises to 2c on April 1st and just 100m oppies would be converted by selling about 90m heads. Bang, sp tanks below conversion level. You will agree, that process takes time. Only way out would be an underwriting or someone offering 0.2c / 0.3c to oppie holders.
Yes, anything is possible, e.g. the amazing sp recovery the very next day after CR announcement at NVA. But to experience those " miracles " we need market motivating news asap as you correctly pointed out as well.
GLTA
What’s at stake?, page-132
Add ALR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.18M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $5.333K | 1.333M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 19777731 | 0.4¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.5¢ | 12652412 | 12 |
View Market Depth
| Last trade - 11.52am 07/06/2024 (20 minute delay) ? |
| ALR (ASX) Chart |