Further to my previous email of Sunday night, I have undertaken some investigations and have the following information to report!
I understand that a large institutional investor was the start of the debacle.
When the stock started to drop, this institutional investor was forced to stop out its position as a result of its investor mandate policies. This in turn caused other institutional investors to start selling (panicking)!
On top of that, a large number of day traders have recently joined the register, which caused them to also trigger their own stop loss trading policies.
This in turn, caused a major sell off.
The good news is that the major shareholders have been reassured that nothing is wrong with RFN and this stopped the panic selling from the big boys.
I also understand that some of the existing shareholders of RFN have stepped in and are actively buying in the market. I am one of them.
Therefore, I strongly believe that the worst of this correction is over and the stock will stabilise at these levels and may even start heading upwards, however, this time I believe that it will be a more sustainable and steady rise vs a unsustainable vertical rise.
Good luck to all RFN shareholders that can hold their nerve. Other people's doubt is our opportunity.
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $1.882M |
Open | High | Low | Value | Volume |
0.4¢ | 0.4¢ | 0.3¢ | $697 | 226.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 4055610 | 0.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.4¢ | 5984051 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 4055610 | 0.003 |
32 | 33790460 | 0.002 |
21 | 58226004 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.004 | 5984051 | 11 |
0.005 | 6016464 | 15 |
0.006 | 5843500 | 7 |
0.007 | 1782269 | 3 |
0.008 | 2372252 | 2 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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