Because they just took up tranche 2 of the placement yesterday. This tranche could only be issued after shareholder approval at the EGM
it is worth pointing out the Tolga and Rob Jewson together now own 17% of the company.
I assume Even Cranston also took part in the placement but hasn’t declared yet.
The three principal directors probably now own about 25% of this company.
They can’t sell without disclosing and so are obviously not in this for a short-term pump and dump trade as the panic sellers are worried about
Also the volumes do not indicate this either. The shares have fallen on relatively low volume.
I think in coming days the stock will find a floor. Frankly this retracemeant is healthy for the stock as the price chart was getting out of control and becoming unattractive to new prospective buyers At least now it can build a base and move up in a more measured way.
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Last
1.9¢ |
Change
-0.001(5.00%) |
Mkt cap ! $68.83M |
Open | High | Low | Value | Volume |
1.9¢ | 1.9¢ | 1.8¢ | $65.11K | 3.472M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 711176 | 1.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.9¢ | 615114 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 711176 | 0.018 |
5 | 1610000 | 0.017 |
5 | 983333 | 0.016 |
7 | 4328333 | 0.015 |
2 | 857143 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.019 | 615114 | 3 |
0.020 | 2221975 | 7 |
0.021 | 845418 | 4 |
0.022 | 250000 | 2 |
0.023 | 715434 | 4 |
Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
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M4M (ASX) Chart |