This is just my own theory:
If they are anticipating a capital raise and they are trying to accumulate more, and are one of few brokers who are trading ASN, they could artificially subdue the price so that the average price is lower, thereby giving shares to the targetted investment firm at a much lower price. The issuance of the shares will push the price lower again, usually below the issuance price, so the manipulating broker can then pick them up from retail and the investor far lower and proceed to raise the price again using their normal trading tactics.
Am I onto something here or is this common practice?
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