There is a sell order there at the moment at 2.2c for 1,420,506. It was originally 1,800,000, but some sales at 2.2c nibbled away at it. It has been there for a couple of weeks from memory. Unusual to see such orders last so long. The effect of the order on the small trading volumes we have for BAR, is to cap the SP at 2.2c, with most trades happening at 2.1c. If you want to sell that many shares when volumes are low, anyone who can afford to have that many shares in a spec stock like this will split them up to sell, so the sale does not hold the price down (so very likely it is intended to hold the p[rice down). The cap works, by forcing anyone who wants to sell at market, to sell at 2.1c. There is usually someone sitting there waiting for these, without making it too obvious. Another big sell order at 2.1c might reduce the cap to 2.1c. Standard operation for certain traders to accumulate at an artificially low price. Then let the price rise for a while and sell.
This order has been there for so long and there has been so little volume, I'm starting to wonder whether trading is the motivation. There are other reasons for some people to want to hold the SP down - very rarely in the interests of most shareholders.
Just idle speculation, and a flag to refer back to should we see any announcements in the near term about decisions based on average SP in this period ...
BAR Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
