Orchastrated end of day Auction, page-34

Hi ARMCH,

Correct. However the ASX is like a bloodhound at the end of a Financial Year (say around  30-6- each year.)   30th June yearly is a an important date for Coy values.........

Why you may ask...........:-

Just imagine  a Company XYZ   share price.... is $1.00   and market cap say $15,000,000  (15,000,000 shares at $1.00)  Its not a liquid stock, doesn't trade regularly.

ASX Market   currently is 'last sale $1.00 and the -Bid (buy)   Ask (sell)   spread is:-

  Quant.    Bid    Ask   Quant.    Last Sale    Quant.
10,000 $0.85 $1.01 15,000   $1.00   15,000

Along comes Joe Blow want to sell 250   at $0.85  --- just to drop the Market Cap   to $12,500.000 as He/she/another Coy (competitor)
wants to make a mark on the XYZ Coy ..   The XYZ Coy has been Market Cap devalued by appx 17% by a trade of 250  shares..  If he/she/Coy holds 250 or more   they can trade .. However the Broker must investigate WHY/WHAT REASON for a sale .

Interesting isn't it... some times the ASX  may investigate strange trades during the year.

But trades like at the close down $0.005   1 share   197 - 237 etc etc  and others ..............................seems no go !!!!

To ascertain the change in Market Cap value  of $0.005  at one share  multiply the No shares on issue by the $0.005  so AJX  appx 288,900,000  x$0.005 = $1,450,000 appx . 1 share at $0.005  could devalue  the Coy by $1,450,000 (appx)  And of course vice virca

Note all appx for this exercise.  How do you reckon the Directors feel when they see this ... and yet have little control over it????

That's the market .... Think its  FAIR  ??????????????

I remember a past Prime Minister saying ... 'That life is not fair'

How do you consider ' FAIR'--- your choice ! !!!!

  All IMHO.  DYPR

Keep safe AJX'ers

The Phantom