Apart from the obvious taking of profits, some have wondered why people "sold out" today. For any that didn't want to spend more money on the stock the answer is simple.
The right issue is 1:4 at 1 cent. Although the record date hasn't arrived yet, if one was to sell a portion of their holding at or above 1.1 cents, they could then use those funds to purchase the rights entitlement on their remaining shares at 1 cent.
That way they make an immediate profit on their holding and maintain their position in LKO without having to invest any more money. Nice little arbitrage.
To all holders, I hope the SP does kick up a little and your rights remain "in the money".
why traders sold
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