Reminds me of the old "$(insert target) Party" trick.
In a volatile retail heavy stock with a good future but recent fundraising or other baggage, jawbone a low target. Sometimes it works - trade it down then profit from the rebound.
I've watched this play over and again on spec stocks - often you can see the sorts trades at the same time (not the case here though from what I can see). Never ceases to amaze me that the tactic does seem to create some gravity around the number. MSB was a classic. One particular downramper would chime in with ridiculous rubbish every now and again, with a corresponding spike in shorts. Price would go down and hit the target. They'd do a raise and the shorts get covered. Eventually there is a good news and the price recovers a bit - but lasting damage has been done and retail investor wealth burned.
I live in hope that one day ASIC will be funded to routinely compare trades against HC comments.
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Reminds me of the old "$(insert target) Party" trick.In a...
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34.5¢ |
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Mkt cap ! $79.38M |
Open | High | Low | Value | Volume |
34.5¢ | 35.0¢ | 33.5¢ | $46.13K | 135.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 3985 | 33.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.5¢ | 61701 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2985 | 0.335 |
3 | 52000 | 0.330 |
7 | 64866 | 0.325 |
4 | 38000 | 0.320 |
2 | 6327 | 0.315 |
Price($) | Vol. | No. |
---|---|---|
0.345 | 25301 | 2 |
0.350 | 16642 | 2 |
0.355 | 35000 | 2 |
0.360 | 22260 | 3 |
0.365 | 9000 | 2 |
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