Have been noticing some interesting turnover since the beginning of February with around 140m shares transacting. This is approximately 12% of TAM's issued capital and a very significant 20% of its free trading capital (ex APAC holding). IMO the buying looks to be sophisticated and appears to have been operated to draw out maximum stock especially from interests that have been suppressing TAM's SP...Lots of days with 5 - 10% daily price volatility which is quite unusual for this stock. Buyer(s) has certainly been happy to pay up for quantity!
The impact of this buying has certainly 'tightened' the stock and IMO has probably also absorbed most of the ammunition required for further price suppression. In addition should APAC attempt to creep a further 3%, I think they will find that there is now very little stock available at under 8c or significantly higher should NST make any mention of CTP recommencement in their Quarterly due next week.
Overall I believe TAM's trading dynamics have now changed, allowing the share price to more fully reflect the real value and quality of its assets.
DYOR
Have been noticing some interesting turnover since the beginning...
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Last
3.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $36.42M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 245161 | 3.1¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.2¢ | 73704 | 1 |
View Market Depth
| Last trade - 16.12pm 05/07/2024 (20 minute delay) ? |
| TAM (ASX) Chart |
Day chart unavailable