Not often talked about, but apparently fairly common that there are more shares in the market than issued by the company. This is supposedly due to 'fail to settles' where a seller (eg a shorter) cannot deliver the shares they have sold on market. Operators cannot punish the buyer by taking away his shares after he has paid for them so the float creeps up.
Everyone was envious of the central banks printing money and the companies printing shares so now the brokers are in on the act, also printing shares.
Bit of a taboo subject that ASIC and the like will never discuss. Have butted heads with ASIC and company secretaries over this before to no avail.
AMX Price at posting:
20.5¢ Sentiment: None Disclosure: Not Held
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