Generally, big players (those capable of gobbling-up as you put it) sit back and let the dust settle while they analyze announcements and reassess company fundamentals. What we are seeing this morning is amateur hour trading - knee jerk reaction to this very significant announcement.
It will be a few days before insto investors and deep pocket sophos start their buying on the back of this announcement (tomorrow at the earliest).
I think somebody else on the BRN forum observed "amateurs open the market, pros close it."
In any case, many are still finishing their weeties - they haven't read it yet.
IMO
DYOR
Ann: Megachips License Agreement, page-156
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Last
20.5¢ |
Change
-0.005(2.38%) |
Mkt cap ! $380.4M | |||
| Open | High | Low | Value | Volume |
| 21.0¢ | 21.3¢ | 20.3¢ | $1.203M | 5.848M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 88 | 2009684 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 20.5¢ | 76539 | 5 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| BRN (ASX) Chart |