My analysis of today's events...... no one anticipated that the announcement would drop on the dot at start of trading. When it touched the 50ct mark, it must have triggered a lot of machines to start selling for profit taking. The big sell off flooded the market with shares which drove down the price below 50ct. The price went into free fall which triggered the machines to start selling even more shares to protect the bottom line. Then there were human interventions that stabilised the price, although the damage was already done.
What happened today does not make any sense and would not be a logical thing a human would do on news like this. I attribute it to machine trading gone wrong..... But if you were able to pick up some shares at the bottom of 40ct then consider yourself lucky as I don't think we will see that level again.
What do you guys think?
Ann: Operations Update, page-114
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