Hi raymaur. I have been trying to understand why this apparent manipulation is going on, and have come to one possible reason. I am hoping that someone with far more knowledge than me about NASDAQ listings can comment.
Basically, I remember seeing/reading before the PBMD listing that as part of the listing qualification, and to maintain a listing the "Home" shares (ie ASX PRR) must maintain a daily trade volume, or a monthly average trade volume. Given that I believe that PRR is currently in a holding pattern until October, and most shareholders are in a wait and see mode, is it posible that these 0.1 cent bids etc are designed to spook shareholders into a sell-buy-sell-buy mentality to ensure we maintain the qualification criteria.
I know this sounds a little farfetched, but perhaps somebody can comment on whether mainting these volumes is a requirement. It might explain the current bids and sells.
GLTA
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Last
29.5¢ |
Change
0.005(1.72%) |
Mkt cap ! $428.5M |
Open | High | Low | Value | Volume |
28.5¢ | 30.5¢ | 28.5¢ | $469.8K | 1.579M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 297652 | 29.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
30.0¢ | 7500 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 267172 | 0.290 |
18 | 232142 | 0.285 |
29 | 1267072 | 0.280 |
5 | 181364 | 0.275 |
10 | 229898 | 0.270 |
Price($) | Vol. | No. |
---|---|---|
0.300 | 5000 | 1 |
0.305 | 196762 | 5 |
0.310 | 57067 | 3 |
0.320 | 6090 | 1 |
0.325 | 10000 | 1 |
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