sorry this happened to you. Those share were issued on Friday and were in market yesterday and all day today. That’s why the volume has been so high.
never trust anyone - they’re not a charity. They know you have a big parcel and they want them cheap for a quick trade.
the 70m shares have washed through now and so that’s why the SP moved back up this afternoon after the selling stopped.
you live and learn! Wont get played like that twice. Always ask - what’s in it for them!
does anyone know how many are held by the Top 20? Struggling to find it. Last 2 days have seen over 130m shares trade hands, of total 298 on issue. Less if you only look at the free float which I think is pretty small. VWAP of 14c today and 15c yesterday, on high volume, means this should continue to rise. Would expect to see it back re-testing highs by the end of the week.
regarding the gap fill conversation. This is just basic supply and demand. In theory, people will sell down as far as the gap but not lower. So it tends to revert there and ‘retest’ the break unless there is a true breaksway gap. Reality is small caps tend to gap due to the small volume anyway and it’s generally just normal price action around support.
$1 Club, page-307
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Last
3.3¢ |
Change
0.002(6.45%) |
Mkt cap ! $35.21M | |||
| Open | High | Low | Value | Volume |
| 3.1¢ | 3.7¢ | 3.1¢ | $159.2K | 4.883M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5305 | 3.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.5¢ | 304130 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
3.5¢ |
Change
0.002 ( 12.9 %) |
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| Open | High | Low | Volume | ||
| 3.2¢ | 3.8¢ | 3.0¢ | 1746367 | ||
| Last updated 15.58pm 03/05/2024 ? | |||||
| OVT (ASX) Chart |