RE: Placing effects1 Oct 2024 11:13
It would have been the exception to the rule if this one had not dropped below the placing price.
Certainly insofar as the last few years go, from the many stocks that I have seen (and in some cases, had the misfortune of being a shareholder in).
This was one of the few that I had a couple of profitable trades in a little while back.
Luckily, my rule now of not investing in such outfits, only trading them, has meant that this is not yet another one to add to my list of losers.
On the plus side, you have some good inside buying (assuming the raise gets the green light, which I assume is 99% assured) and some further support from some of the larger holders.
The RNS prior to this one perhaps gives some people the impression of an action designed to pump up the SP, to get this raise away at a much higher price than might have otherwise been the case.
To be clear, I am only suggesting this might be why some are exiting, and hence it is dropping below the planned raise price, rather than making accusations that this is what happened.
And if the deal, as per the previous RNS, goes ahead, then I guess the funding run way is going to be even longer, although not sure that will be of much comfort to shareholders who are now going to have to put more in here, to avoid being as diluted as they would otherwise have been.
Especially when, I assume, many people thought a raise would not now be required, and so added more at the time, or took opening positions.
Either way, if this is indeed going to be the final raise the company needs to make, then hopefully you will all make some good profits here eventually.
Still feels like one to trade, rather than invest in, to my mind, but time will tell.
19p-ish would probably lure me back in, since you asked.
If that day never comes and this one sails away from the current price, then good luck to you all.
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