Common occurrence. Once its known that a broker is looking to sell a block of stock on behalf of a client, bots are put to work to try and force the on-market share price down as much as possible so that the prospective buyer can get the block at a cheaper price (as the block will be priced relative to the current on-market share price).
This happened when Keith John and Banksia were selling down last year.
Ann: Change in substantial holding - KR John, page-18
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Last
53.5¢ |
Change
0.035(7.00%) |
Mkt cap ! $72.05M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 53.5¢ | 49.5¢ | $711.4K | 1.388M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30844 | 52.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 30250 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PNC (ASX) Chart |