If you look at the course of trades today it's the cross trades that drive the price down each time. It's a definite pattern and the lack of transparency harms price discovery as the seller are buyer are the same entity. It's pretty obvious. The following excerpt from the Parliamentary Joint Committee on Corporations and Financial Services discussing High Frequency Trading and Dark Liquidity is worth reading - so that you know what you are up against.
IMO there has been a lot of this activity on this stock yesterday and today. I have sat and watched trades not listed in the Bid or Ask side fly across the screen. These trades have a purpose...to get the stock to a desired price target which could be either up or down. In this case over todays trading to get it down.
https://www.aph.gov.au/Parliamentary_Business/Committees/Joint/Corporations_and_Financial_Services/Membership/asic/asic20132May/c03
What lies beneath the price action, page-16
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Last
0.3¢ |
Change
0.000(0.00%) |
Mkt cap ! $17.68M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $8.252K | 2.750M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 76 | 75935987 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 126962 | 2 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| VML (ASX) Chart |