Inclusion to the ASX requires a vast amount of ETFs and all manner of others to buy ZIP shares to keep compliance with the terms of the funds. The rebalance each 3 months sees companies coming and going, and this event including ZIP is due to a company in the ASX200 having been taken over, so it can no longer be part of it.
If a company was to suddenly gain entry and everybody piled in to buy shares to comply with ETFs for instance, there would be an opportunity for shareholders to hold them over a barrel and demand a high price. The ASX wishes to avoid that, so gives notice in advance as well as ensuring sufficient liquidity each day over a successive period so that there is enough for everybody to buy. Among that is the daily closing auction whereby 2 minutes after close of the market the ASX 'dictates' a price based on weighted average of the day's trading and makes stock available to buyers. It is not a price sensitive auction, it is a list of orders to be filled, which assist to satisfy the orderly entry of a company to the ASX200 without belting the price up.
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Last
$2.79 |
Change
0.100(3.72%) |
Mkt cap ! $3.642B |
Open | High | Low | Value | Volume |
$2.71 | $2.90 | $2.71 | $45.39M | 16.09M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 26755 | $2.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.80 | 85890 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 26755 | 2.790 |
11 | 206476 | 2.780 |
5 | 82117 | 2.770 |
7 | 83070 | 2.760 |
15 | 163426 | 2.750 |
Price($) | Vol. | No. |
---|---|---|
2.800 | 85890 | 2 |
2.820 | 12472 | 1 |
2.830 | 36942 | 7 |
2.840 | 95913 | 6 |
2.850 | 247762 | 10 |
Last trade - 16.10pm 28/10/2024 (20 minute delay) ? |
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ZIP (ASX) Chart |