Hi All ASM long termers Share Price Weakness and Shorters. I see references about Is this stock being played. Well I was surprised to see the SP down again after yesterdays good price incremental announcement. After a decent bump up, it softened yesterday, and currently is 11% down today.
So is that related to fundamentals, the need for capital in this market. I THINK NOT.
Posters were doing the sum yesterday saying based on the positive announcement of yesterday and the pledging of further millions to the company, the share price indicative was USD$7.80 / ~A$13.
Well why so far down today? Well at 2:30pm today, I downloaded the course of sales, sorted it to find: 654 1 unit sales, 959 2 unit sales, 1124 3 unit sales, 1279 4 unit sales, .....looking at this in $ value trades, there were to 2:30pm 7240 trades of less than $500 trades. Well mums and dads can't do <$500 trades, those trades are from the "professional" end of town where brokerage is not charged on each trade. I just shake my head continuously about the lack of ethics, sense of fair play, and worse the number of and acceptance of these low life people / businesses and regulators that supposedly the man in the street should look up to. SO, fundamentally nothing has changed from yesterday, and not much except more money to the company when our share price was $14. NOW, due to the fundamentals I will continue to ignore the SP as I expect equilibrium will return. SERIOUSLY, how can this low unit bot trading be allowed to continue?
ASM Price at posting:
$5.14 Sentiment: Hold Disclosure: Held
(20min delay)