"Scary after market dumping"
But was that market dumping? You obviously think so. That is because, I believe, you only look at the after market volume without considering the share price for that volume. Am I right?
Looking at the volume in isolation - without considering its interaction with the share price movement is just seeing half of the picture. To see the whole picture, what must be considered is the interaction between volume and share price movement. So says Volume Spread Analysis. And it is easy to do.
At 4pm the closing price is 1.235. After the auction the price is 1.23 and the volume is about 40 million shares.
So a dump of 40 million shares could only drop the price by 0.005 (a half cent). While at 3.50pm, a dump of about 1 million shares could drop the price by 0.007. If 1 million shares could drop the price by 0.007, logically 40 million shares should drop the price by 40 x 0.007 = 0.28. But it only dropped 0.005!
That that happened must because the buyers were eagerly competing to buy. Otherwise the final price should have been much lower.
So it was more of big buying than dumping today.
(20min delay)