Preparing for another RaiseIt seems like we have learned how Brompton plays the game when it comes to raising funds. Let me clarify that as it is not a game in the sinister sense. I should say, now we have learned the rules that apply to Brompton raising funds.
I posted the following on Nov1 in a post titled "Learning as I go" :
"Just warning everyone that if the Prefs sneak up to $10, look out for a Raise"
Just a week later and the price of the Prefs have moved up to $9.93. What a surprise!!!
Given that the Prefs are an interest rate driven instrument (that is why they were trading at $9.70 a couple of weeks ago) and that interest rates are rising, it is a bit of a mystery why the price of the Prefs have increased $0.23 in a couple of weeks. Perhaps it has something to do with satisfying Brompton's internal benchmark before doing another Raise.