GENE - Genetic Technologies - just keeps going up!

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

Hi,

GENE just keeps going up and up and up, 10-20% per day sometimes - I find it hard to get information on them and blind invested a while back (around 10k shares) - so far it has been fantastic but I feel lucky rather than smart about this.

Any comments that could help educate me?

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

So, "dillution" complete, stock down by a good 35%, time to stock up and play the waiting game?

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

Update on the volunatary suspension of quotation - normal trade to be restored next week:

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01198953

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

Now that we have the suspension from official quotation gone beyond Thursday I am concerned what the news will be.

Anybody got any idea when GENE will trade again? Still no news on ASX ...

lion hunter · Senior Poster Joined: 27 Mar 2006 Posts: 130

Cap raising probably wont be a positive for the share price in the short term.
Guessing it will be at a discount to the current price.

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

http://www.asx.com.au/asxpdf/20110712/pdf/41zqnstc9ggsrg.pdf

Here is the document requesting the halt and explaining the cap raise in case anybody wants to see it.

I suppose this is going to be a good thing, right?

voyager3 · Newbie Joined: 11 May 2011 Posts: 10

I am holding a small amount of shares in Benitec already but they have not done much for me so far.

I am pretty new to this so excuse me if I am missing the obvious - where do you find the market recap info on Gene - they seem to be trading fine in Frankfurt?

lion hunter · Senior Poster Joined: 27 Mar 2006 Posts: 130

Just gone into a trading halt pending a cap raising.
One stock you should have a close look at is Benitec (BLT.ax)
Leaders in gene silencing technologies.
Expecting some serious alpha here.