I'd say it's mostly orchestrated. Management get a feeling from the instos on where the SP needs to be to get support and down the SP goes before the CR is announced. It's an ASX problem as it happens all the time.
I hold SYA and SP was high 30s, then a massive dump and cap raise at 18c before it dropped back to 11c. I doubt the same will happen here, but either way it's ridiculous that the ASX allows this to happen all the time
Ann: A$100m Institutional Placement, page-71
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Last
12.5¢ |
Change
0.010(8.70%) |
Mkt cap ! $267.8M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 13.0¢ | 11.5¢ | $1.400M | 11.34M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 1191748 | 12.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 4186301 | 43 |
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| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| CXO (ASX) Chart |