This morning was interesting! There were a couple of genuine bids at $1.95 and the market opened at this price. Then it was pushed down on to $1.88 before recovering a little.
Why would a holder of the stock put in offers which depressed the price when the natural desire of a seller is to receive the best price. It is market manipulation for one of three reasons:
By shorters to reduce the price so they can buy back at a profit or,
By holders seeking to depress the price so they can buy more at a reduced price.
By day traders who sold into $1.95 and wanted to buy back. But the volume was small so the return a few hundred dollars at best.
Panicked retail investors? I doubt it. Institutions quite likely. Day traders quite likely.
Our problem is that our investors, with a few exceptions, do not trade. Biotech is a long game and the conventional wisdom with Biotech is to put them in the bottom draw and forget about them.
While I should put SPL in my bottom drawer it has become a bit of a hobby.
GLTH
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Last
9.4¢ |
Change
0.001(1.08%) |
Mkt cap ! $39.23M |
Open | High | Low | Value | Volume |
9.3¢ | 9.4¢ | 9.3¢ | $68.2K | 732.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 25 | 9.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.0¢ | 1236 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10 | 0.098 |
1 | 499 | 0.097 |
1 | 443266 | 0.093 |
1 | 50000 | 0.091 |
1 | 10331 | 0.090 |
Price($) | Vol. | No. |
---|---|---|
0.090 | 1236 | 1 |
0.094 | 11602 | 1 |
0.095 | 57000 | 3 |
0.096 | 100000 | 1 |
0.097 | 50309 | 2 |
Last trade - 15.43pm 12/09/2024 (20 minute delay) ? |
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SPL (ASX) Chart |