I have no idea about why the share price pipped. However if I can use some human physiology and if allowed some leeway to make a guess, I would say the following.
In general while the volume was big some would definitely be churn. Also in general, I think anytime buyers rush in, is that they think they know something. Maybe some do? So while there was a seller for every buyer the buyers were clearly in a rush to get in. Thus the price spike. This led to a stampede of buyers. A bit like fans looking for their star. Unsubstantiated rumors lead the crowd of fans going on a wild chase. So the buyers control the action for a while, until reality sets it. I would also add that the tightly would spring is not something I dismiss. Especially if the share price is being effected and manipulated by bigger players. As we all know what happened with GameStop.
Regardless, there has been groundwork done by Visa, there in the Virgin money deal, the chances are that more positive news is not too far away. My guess before the end of the Australian financial year. As I have stated before, this is why I think the share price will be 1 to 2c higher by then.
9SP Price at posting:
2.3¢ Sentiment: Hold Disclosure: Held
