This is being "controlled"
Programmed in fact but not in the way you suspect - The algorithms are written with a specific purpose and that is to place orders that screen the depth and trade volume. A sell bot is programmed to sell X number of shares over a given period of time at the highest achievable VWAP and a buy bot is programmed to buy X number at the lowest VWAP.
All perfectly legitimate as I found out many years ago when I tries to get a senate inquiry into algorithmic trading a decade ago .
Using bots to manipulate a company share price say for a low ball take over is illegal and carries hefty penalties if proven.
PLS chart, page-461
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Last
$3.05 |
Change
-0.100(3.17%) |
Mkt cap ! $9.185B | |||
| Open | High | Low | Value | Volume |
| $3.13 | $3.15 | $3.02 | $74.55M | 24.33M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 89482 | $3.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.05 | 37502 | 3 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| PLS (ASX) Chart |