Mr Market is reacting like they have no idea what the motion for the annual meeting actually means.
They have to increase the authorised share count, typically you only do it at an annual meeting as calling a special meeting is expensive and indicates a board without vision and planning skills (ie belonging in the OTC).
So how many should they raise it by?
They are not diluting at this time it is just a threshold number. What if they bought out Ballard or Nel with the authorised shares? What about investing in a green energy company like APEX?
Andy doesn't need to rebuild trust, he has delivered more than envisioned 2 years ago. I am not sure he expected the climb to $75 but as CEO and board member taking advantage of that to raise more cash that he had already planned to raise for 2022/2023 expansion was genius.
Only slight gripe is his share sale but that was pre-programmed not sure how far in advance
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