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VCR 0.0¢

rights trading?

  1. money2u

    701 Posts.

    Sold my total holding in vcr today at 2.69 as I was surprised at the limited rally for the rights last week. Profit $2350 not good when you have put up that much $$. While I dont have an opinion as to which way they will go I wonder whether the support that underpinned them at above 2.50 will remain once they have achieved their capital raising. I was just overweight in this volitile sector and as I held on Friday will try to buy more through rights issue at 2.25. The 1 for 12 is not a great offer but keep in mind this was if everybody took up their rights which I believe not everybody will leaving it open for holders to buy more as set out in the prospectus.

    Good trading

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