That must be correct.
Printable View
It’s running up against a decent test now, be interesting to see the strength of this
Ok, guess that answers that, took out the resistance in one 150k hit…this is interesting
Yep, when things get on a rol anything can happen eh
Maybe corporate action befor Xmas break?
Expect an NZX price enquiry to be made on Monday. Some of this may be due to momentum traders but there is an underpinning of substance to generate this price action over such a short period.
Next week may reveal how/what it is. Glad I re-entered, just regretting I wasn't more assertive with a larger position.
Clearly the underwriters knew they were going to end up having to take up a large number of shares with the recent capital raise, and the board had to accept the price they were willing to do that at,
These underwriters are no fools, and they go in eyes wide open, there is no way they are holding these shares because they were “ surprised “ by the lack of uptake, they got them at the price they wanted. They know something.
But also they couldn’t sell even if they wanted to. No buyers unless they wanted to push the SP back down to the 40cent range