Hi Buffet, I am not sure but I suspect it has a lot to do with Trading Psychology, apparently those who understand it know that "Counter intuitive" bids are a strong influence on peoples sentiment. For a while now I have suspected that somebody has been deliberately keeping the SP down; to what end ? probably so that they can mop up a heap of shares in anticipation of a re-rate following the PFS/LSE.
Without this interference PM8 would probably be at around 50c, it was headed that way back in June when it hit 30c, since then we have averaged around 100k/shares per day assuming our dumper is picking up half or more of those then he has managed to accumulate around 5M shares at a 50%+ discount.
PM8 Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
