Dont fully know the motives ... but it definitely is tied into the 30 million share issue. The lower it goes, the cheaper they get their shares.
keep this in mind though ... it is actually against their own interests to see the SP of BMN go TOO low! After all the future receivers of the $30 mill of stock will also want to see their shares appreciate in value .... they do not want to see the stock hit down & the market lose confidence.
They will have determined just how much they will want to pay for the shares, and will keep the SP at that level - no lower. Then immediately after, they will voraciously buy on market and push the SP to new highs.
The action today, which went against the very strong general market, was a clear sign that they are running out of time .... the issue is very close. By my recking, its within the next 5 days.
Hold tight
(and buy more if you can)
:)
being mercilessly screwed down, page-16
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Last
$3.19 |
Change
0.230(7.77%) |
Mkt cap ! $569.7M | |||
| Open | High | Low | Value | Volume |
| $2.93 | $3.25 | $2.92 | $4.336M | 1.386M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4784 | $3.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.19 | 10307 | 1 |
View Market Depth
| Last trade - 16.10pm 26/09/2024 (20 minute delay) ? |
| BMN (ASX) Chart |