Down another 3.6% today ( so far ! ).
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Down another 3.6% today ( so far ! ).
I read on NBR behind the paywall Craigs put a SELL on it and basically said they should have done a capital raise earlier.
Majority shareholder says his interests are aligned with shareholders BUT not exactly. He's been trying to maintain control and with the way the company has been trading its now facing a cash crisis. He's left the capital raise to the last minute and directly acted against other shareholders best interests in my view. If this fails, (as it very well might do), he can fully expect shareholders to come after him looking for redress.
Holders are very "brave" in my opinion. Best case scenario is he gets a capital raise away at a deep discount to the current price. If he can't...
Behind the paywall article is today and is probably more current than their quarterly publication mate. Mark Lister reported as calling it a SELL today. NBR behind the paywall article of Friday last week called Mr McCrae a "control freak"
Forbar reported as calling it UNDERPERFORM. Forbar analyst goes on to say this is a high risk stock not suitable for the majority of retail investors.
I guess neither of those brokers investment banking divisions are handling the possible recapitalization negotiations.
As I bought in as a punt to the sector they're in, it's about the right time to get some more at less than $1.30 then :) Just the challenge of catching some falling knives, I guess :p
I read a very good analysis of when to buy "cheap stocks". Might be worth a read and could help prevent cut fingers from the falling knife :)
https://www.livewiremarkets.com/wires/35081