Mate, the opening auction is a balance of various bids. Some are outrageous bids like the 70 cent one you saw. ASX works out the best price to sell the most shares and that is where it opens (and closes in a similar auction). All shares are sold at that determined price.
Hope that helps.
gapping up!, page-2
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Last
1.4¢ |
Change
0.001(3.85%) |
Mkt cap ! $36.50M | |||
| Open | High | Low | Value | Volume |
| 1.3¢ | 1.4¢ | 1.3¢ | $1.629K | 121.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 2823556 | 1.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.4¢ | 2883982 | 10 |
View Market Depth
| Last trade - 14.27pm 30/08/2024 (20 minute delay) ? |
| AEV (ASX) Chart |