The limit is a 10% move for all stock. It works reasonably well for most stocks, particularly older and dearer stocks. However for new cheap stocks (most 'penny' stocks) it makes normal orderly trading very difficult. For example, a 4 to 5 cent trade that was quite acceptable only a few weeks ago is now unacceptable because, for example, someone with a few thousand shares decided to sell out, finding ready buyers trying to get in cheap, and doing so. A return to what was recently 'normal' is deemed to be a disruption to the orderly trading of the market. It is simply the "one size fits all" approach of the ASX does not work for the GRL type of stock, and the ASX has little interest in small stocks.
GRL Price at posting:
3.5¢ Sentiment: None Disclosure: Held
