RE:RE:More from S. S. mbThe company and major investors have just announced that the shares should be priced at $2 CAD. OK, so a correction to that level should be expected. Anything below that smacks of ignorance from your average retail investor.
Look at thi this way: You and I each have a widget that we are going to sell at a pawn shop. We each feel that our widget is worth $2.25 or at least hope to sell it to the shop at that price. I walk in and have to settle for only $2. I advise you of such and you walk in and decide to accept only $1.80 for a $2 widget. Gee, which one of us ignorant/foolish?
Simple overeaction from weak hands. As if the retail investors haven't figured out that the insiders and other preferred shareholders usually get slightly BETTER rates on a capital raise than the current market price.