After reading the APAC interim report, it seems that they had suffered severe 'impairments' [read losses] from MGX and TNM, plus a fair kick in their bulk handling investments. Add to that the losses in IO, freight and gold over the last 1/4, and the next 1/4'ly looks a little scary for Bretty and the boys.
Perhaps THEY had begun to divest at the highs, in order to add some type of meaningful profits to the current, pale balance sheets? Seems the easiest way to add a few extra HKD into the half yearly, especially when the results of the Chinese covid shutdowns show their faces.
Sell high, then re-buy at the lows. Rinse , repeat.... Great fun when your trades probably average far less than 3c a hit. Great spreads for each dollar of trades made. Meanwhile, retail investors, all purchasing in good faith, get pipped with mid cent trades, and 'on market' sells outside of the bid/offer spread, not available to the CHESS sponsored investor.
As the company too 'resides' in Bermuda, this adds an element of interest , especially as a LLC.
And Bretty has invested a princely sum of what, 17k?, is this supposed to send a signal that all is well?
Seems he has LIMITED skin in the game to be honest. He has limited skin anywhere. I spent well more than that in the last WEEK'S trades...
So, let's get it over and done with, post the 604 and get on with business.
Let's find out the actual seller's identity, keep an eye out for the next pump n dump patterns, and move on.
MLX Price at posting:
47.3¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)