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On The Precipice, page-41

  1. 319 Posts.
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    I would agree with Shady that the closing trade was out of character. If I genuinely wanted to buy 500K shares, on a gloomy day like yesterday, with the shares trading at 5.4c, I would just place the order at 5.4c, and wait for someone who needs cash to take the bite. This, by contrast, was purposeful, and constrained to the aftermarket closing period, and designed to take out as many steps as possible. Why would that happen? Many possible scenarios. Sometimes, brokers are in discussion to raise at a certain price point, let’s say 5.2c, and if the share price closes at 5.3c, then it doesn’t look very attractive, and the whole float flops. Someone comes in, takes out the stragglers on the buy side, share price closes at 6c, and next thing we have a trading halt, and the same raising at 5.2c —- now apparently at a substantial discount, and everyone thinks they are getting a big discount. Whether that transpires or not next week, remains to be seen. But it was my first thought.
 
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Last
0.7¢
Change
0.000(0.00%)
Mkt cap ! $15.18M
Open High Low Value Volume
0.7¢ 0.7¢ 0.7¢ $10K 1.428M

Buyers (Bids)

No. Vol. Price($)
23 10712336 0.6¢
 

Sellers (Offers)

Price($) Vol. No.
0.7¢ 4292856 4
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Last trade - 10.08am 04/11/2024 (20 minute delay) ?
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