I must say I'm personally excited to see this stock routinely drop 1 pip every afternoon at 4:10pm. Buyers can't cause it to do this, only sellers. Now pray tell, why would a holder want to suddenly sell at a lower price just at the end of the day? No one decides to sell their entire stock at discount at 4:10pm, so how could it benefit a holder to reduce the closing price? Surely it must do damage to their stock to artificially lower the price and reduce confidence in investors. So why would someone do that?
Only reason is if someone sees value in the stock and wants significantly more.
If you want to buy $500k of shares you don't just put in an order for $500k or SP would 10-bag during the day and you'd pay a huge premium for your shares. Better tactic is to buy $10k per day, spread our across the day, then sell $500 in the afternoon at a discount price. This drop at the end of the day erodes some investor confidence and makes the chart look bad. Buy shares again next morning at lower price and repeat.
Happy to hear other opinions on the matter but I simply see no other reason why someone would sell shares one pip cheaper at 4:10pm each day.
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.17M |
Open | High | Low | Value | Volume |
0.2¢ | 0.2¢ | 0.2¢ | $29.70K | 15.03M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
125 | 273223390 | 0.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.2¢ | 32741268 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
125 | 273223390 | 0.001 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.002 | 3420269 | 4 |
0.003 | 55575452 | 58 |
0.004 | 28824634 | 38 |
0.005 | 12959877 | 10 |
0.006 | 8537559 | 12 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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LPD (ASX) Chart |