Ann: Successful Completion of A$285 Million Placement, page-50

I appreciate the enthusiasm but whats your reasoning behind this?

I am new to APX. I was going to buy it around $12 but all my other stocks were down so I didnt. It then went down to $10 and I thought phew, dodged a bullet! And since then I have been seeing in climb higher and higher and it became far too high for me to even think about opening a position.

Once I saw the trading halt, I said to myself, OK here disappear my chances of ever getting in ( I thought SP will jump to late 20s very quickly). Luckily, the SP fell (to my surprise) so I managed to get in at 22.55 yesterday.

I am very uncomfortable with this purchase because there seems to be a lot of risk. I am still researching the business to better understand what it is that they actually do. Anyway, the fact that instos put up almost 300million to invest into APX, proved to me that the SP is justified. Ofcourse, I could be wrong, but generally such a large capital raise (around 14% of market cap) is a good sign. There is definitely more upside than downside but both are extreme and SP movements will be vigorous in either direction.

The biggest risk I see is clients not returning for business with Appen. Do we have something that others don't? Do we have much competition?