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The latest update is out from Wildcat Petroleum Plc ( (GB:WCAT) ).
Wildcat Petroleum Plc announced the placement of 71,430,000 new ordinary shares at a price of 0.07p, raising £50,000 for working capital. The new shares are expected to be admitted to the London Stock Exchange, increasing the company’s total issued ordinary share capital to 3,004,470,000 shares, which will be used by shareholders for interest notifications under FCA rules.
Spark’s Take on GB:WCAT Stock
According to Spark, TipRanks’ AI Analyst, GB:WCAT is a Underperform.
Wildcat Petroleum faces severe financial challenges with no revenue and persistent losses, posing significant risks. Technical indicators show bearish momentum, and the valuation is unattractive. However, recent corporate developments, such as strategic partnerships and leadership changes, offer some potential for operational expansion and improved investor relations, slightly offsetting the negative aspects.
To see Spark’s full report on GB:WCAT stock, click here.
More about Wildcat Petroleum Plc
Wildcat Petroleum Plc is a company focused on investment opportunities in the upstream sector of the petroleum industry.
Average Trading Volume: 27,226,932
Technical Sentiment Signal: Sell
Current Market Cap: £2.49M
See more insights into WCAT stock on TipRanks’ Stock Analysis page.