I called this over a week ago. Said it might go as low as 2.5 (that's where I have a hopeful buy order, which the budget is waaaaay stretched for but anyway).
With the rights being converted and issued today/tomorrow the stock becomes diluted by roughly 15% and we will see some people selling their new excess shares for a quick buck. Lots of traders will sell before this dilution kicks in because they're not looking to hold 'long term' for the stock to recover from dilution (which I don't think will actually take long).
This time I don't think it's just LIT, but I wouldnt stress, this was always going to happen with new shares being issued, it's just a bump in the road. Announcements soon and this will be a distant memory.
Who is dumping, page-6
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Last
0.3¢ |
Change
0.001(50.0%) |
Mkt cap ! $25.76M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $1.152K | 384K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 84 | 63010603 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 87136493 | 42 |
View Market Depth
| Last trade - 10.04am 10/10/2024 (20 minute delay) ? |
| LPD (ASX) Chart |