THX pulled off on Friday for 3 simple reasons and they were all textbook.
1- UMC went into suspend [meaning slight delay to the announcement]
2-The market had gained over 200 pts in 3 days and the stock had run hard.
3- It was a Friday and they tend to be weak and traders take home the cash and buyers stay away.
UMC should come out of suspend on Monday and all will be revealed. Remember that THX was 65c before UMC went into halt, so in effect the cash side of any takeover is not really factored into the price as much as people may think.I also expect the results to come to market.
Stock should hit a new high on both outcomes.
dyor.
why is it so...
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Last
0.6¢ |
Change
0.001(22.2%) |
Mkt cap ! $39.27M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.6¢ | 0.5¢ | $119.1K | 23.55M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 14949300 | 0.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.6¢ | 39744080 | 18 |
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| Last trade - 15.45pm 20/06/2024 (20 minute delay) ? |
| OAU (ASX) Chart |