I wonder if the share price reaction would have been milder if the updated strategy had been announced at the same time as the share issue announcement? It’s hard to believe that with today’s information, the price would have plummeted -70% in one go.
Now, the news of the issue was delivered like a bolt from the blue without any explanation and after the market closed, and today’s webinar didn’t have any sweeteners left to offer. You don’t have to be much of a fortune teller to know that this combination leads to panic selling.