Do you have any logic to support your thought process around the SP dropping?
A US based institutional investor/s just bought $11m of stock at 4.0c, they have absolutely no benefit in selling their stock at the same price. In fact the maximum benefit they can extract would come by holding the shares and options to convert once in the money....
There will be no drop based on the placement, if anything it provides a new floor at 4.0c
Will share price drop after Placement?, page-4
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Last
0.2¢ |
Change
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Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $16.86K | 8.336M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 220 | 218583951 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 595153718 | 206 |
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| 88E (ASX) Chart |