The acquisition announcement said the placement was heavily oversubscribed so I would imagine the selling is coming from stale retail investors previously in the stock.
It is at a $1m EV so you would have to be pretty silly to be selling here if you got some placement stock.
Once these sellers are out it will move quickly.
Ann: Application for quotation of securities - SUM, page-4
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Last
19.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $16.11M | |||
| Open | High | Low | Value | Volume |
| 19.0¢ | 20.0¢ | 18.0¢ | $119.5K | 641.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 44774 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 4700 | 1 |
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| Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
| SUM (ASX) Chart |