KCN 0.33% $1.51 kingsgate consolidated limited.

ASX is on notice about manipulation of Kingsgate share price, page-508

  1. 1,621 Posts.
    lightbulb Created with Sketch. 1008
    There is no way a company can compete with a series of pump and dumps as it takes out future buying in the stock. One traps late investors in the stock at prices that are above the bottom of the dump. It looks something like this

    https://hotcopper.com.au/data/attachments/6056/6056410-07c4b2ee4eb873963f4d808c8c36506e.jpg

    We only have data that was supplied from September 21 to March 22 in BOA/ML form 603s which pumped the stock to 2.40 and dumped it to 1.13.
    Do the spread sheet yourself, you have the data. Given that and the jagged sawtooth that followed I would say it is London to a brick that that the other peaks and troughs were arrived at the same way. Supplementing that kind of skullduggery one has the algos, which, even if they start out nice they can become nasty by machine learning.
    https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4219227

    I don't concede that the algos that confront this stock are anything other than manipulative ab initio. They can be switched up and down. I've seen it happen when I blocked it.

    Last edited by fitzroy5: 25/03/24
 
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