Because they just took up tranche 2 of the placement yesterday. This tranche could only be issued after shareholder approval at the EGM
it is worth pointing out the Tolga and Rob Jewson together now own 17% of the company.
I assume Even Cranston also took part in the placement but hasn’t declared yet.
The three principal directors probably now own about 25% of this company.
They can’t sell without disclosing and so are obviously not in this for a short-term pump and dump trade as the panic sellers are worried about
Also the volumes do not indicate this either. The shares have fallen on relatively low volume.
I think in coming days the stock will find a floor. Frankly this retracemeant is healthy for the stock as the price chart was getting out of control and becoming unattractive to new prospective buyers At least now it can build a base and move up in a more measured way.
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Last
2.8¢ |
Change
0.002(7.69%) |
Mkt cap ! $100.7M |
Open | High | Low | Value | Volume |
2.7¢ | 2.8¢ | 2.7¢ | $31.72K | 1.134M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 647592 | 2.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.8¢ | 455694 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 647592 | 0.027 |
5 | 1449600 | 0.025 |
6 | 616251 | 0.024 |
4 | 2493089 | 0.023 |
2 | 336000 | 0.022 |
Price($) | Vol. | No. |
---|---|---|
0.028 | 455694 | 4 |
0.029 | 224000 | 2 |
0.030 | 2989555 | 6 |
0.031 | 677413 | 3 |
0.032 | 636774 | 2 |
Last trade - 14.26pm 16/08/2024 (20 minute delay) ? |
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M4M (ASX) Chart |