What can we expect in 2023, page-79

Exerp from Far East Capital’s Warwick Gregor in his weekly commentary.
He’s referring to the Nagambie Resources SP “incident” this week.

And I quote….

”When aggressive investors decide to “hurt” a stock.

Investing is not just about fundamentals and numbers. There are strong emotional elements that pervade the market every day. Egos are inescapable, be those of promoters, investors or companies. Everyone wants share prices to go higher; well, almost everyone.There are occasional instances of aggressive traders who want to “hurt” a share price as a means of punishing directors, or others, by driving a share price down. You can often see boasting on chat sites, where posters gloat about the pain they may have caused. Technically that is share price manipulation - creating false markets - but the regulators don’t seems to care as much about manipulation that causes share price to fall as they do about those that rise.Last week I saw someone place about eight million shares in the market (but a few points higher than the last trade) in a stock that rarely trades above 0.5 million per day. The only reason why someone would do this is because they want to scare away buyers and make the market look weak. They are trying to bully the share price lower. The order was pulled the next day, but it still left a shadow over the stock. I would have thought that if someone really wants to move a large line it would be smarter to conceal the true quantity of selling, or get a competent broker to place the line of stock with a client.”