I think they are bunkering down and its about strengthening the balance sheet during this down-turn. A lot of similar companies are struggling to stay afloat due to a lack of capital. Keeping the cash means they will stay solvent over the next couple of years. More importantly, they have made it clear they are looking into other acquisitions. The cash also earns them interest so it is not dead money. At least in the short term there is no downside.
Is this an undervalued stock?, page-13
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Last
2.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $88.52M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 503210 | 2.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.5¢ | 34000 | 1 |
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| Last trade - 16.12pm 08/11/2024 (20 minute delay) ? |
| RDG (ASX) Chart |
Day chart unavailable
