Agree SY,
A few comments of frustration with the manipulation.
If this bothers you as a share holder then you can do something about it. I've only read of one other share holder that's reported this to ASIC. ASIC state that they get a lot of reports sent, so if you want something done about it I think the more people having their say the more likely action will be taken, and there are many examples of illegal manipulation here.
Follow the links here: (It only takes 5mins to fill out)
https://asic.gov.au/about-asic/cont...es-and-market-misconduct-insider-trading-etc/I think its important to give good examples when filling out the info. These are what myself and others have observed.
- Millions of share sell orders being placed and pulled during the closing auction to encourage selling.
- Cornering the market (This is the scenario where the trader purchases enough of a certain commodity, stock or another asset in order for him or her to control the supply and be able to determine the price for it.)
- Loading the sell depth with no intention to sell but create sell pressure.
- Selling small parcels to close the stock lower every day and throughout the day.
- Wash trading/Churning: The trader sells and re-purchases the same security or a substantial amount of the same security to generate more activity. (For this one it can be done to create buyer interest, however I think in AVZ's case it's being done as a negative to appear like volume goes through with little price movement to encourage holders to exit.)
(Please add your own observations)
I'm told ASIC's assessment takes approximately 1 month to conduct on their end and I'm yet to hear from them (its been just under 2 weeks). I'll post if I hear back. Just because 2 people have reported this doesn't mean action will be taken. I think with more share holders voicing their concerns will really make them take notice. I'd like for action to be taken so whoever is manipulating the SP is out of the way before the real news drops...
