If they change their offer, it will push them to the back of the queue for whichever price they choose next.
More likely the plan is to reserve the trading spot at the cost of dragging the opening price down, since the sales volume is quite high compared to the buy side.
However, I have observed these types of low ball sells being used to draw in buyers who may bid increasingly high in order to gain priority, only to pull out at the last second and ultimately causing a raised opening price.
Ann: Trading Halt, page-21
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $8.684M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $17.03K | 4.257M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 73 | 60640305 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 7058086 | 14 |
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| Last trade - 10.09am 20/08/2024 (20 minute delay) ? |
| NRZ (ASX) Chart |