Ant_789. Let's not ignore one patently obvious answer, Steve Promnitz, the CEO and very public prime mover, walks, (told not good enough?) DUMPS 10,200,000 shares ON MARKET. There is one very big, obvious reason for very many punters and traders to run to the exits and panic!!
Liquidity has always been an issue and there simply were not enough shares on market to absorb the rush.
Meanwhile 96% of mainly LT loyal INVESTORS paid in $62,169,858.75 as a massive show of support for the future of this company. To THE COMPANY.
Individuals come and go, the departure of the CEO was atrociously handled and reported, together with a total lack of response to the price crash from both the company and from the ASX. It was a total administrative disaster. The company should have called a Pause in trading subject to the release of the final numbers from the LKEOCs and have released those numbers BEFORE the close of trading.
"Someone" had definitely taken their eye off the ball when that massive dump hit the market!!! Was everyone asleep at the wheel and didn't see that a $BILLION had been wiped off the value of their company???
What were the Top 20 doing? Where was Stu(ie)?
What extent did the shorting have on the crash?
We haven't heard the last of what happened yesterday.
LKE towards TOP-5, page-8112
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Last
3.8¢ |
Change
0.001(2.70%) |
Mkt cap ! $63.40M | |||
| Open | High | Low | Value | Volume |
| 3.7¢ | 3.9¢ | 3.6¢ | $296.0K | 7.836M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 27 | 2201429 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.8¢ | 16995 | 1 |
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| Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
| LKE (ASX) Chart |