A4N

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83.0¢ alpha hpa limited

Ann: Change of Director's Interest Notice, page-21

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Miner64

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20/09/23

14:50

Post #: 69938106
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Originally posted by djkencloud: ↑

They sent me this - think of it what you will...

Hi Ken

Thought I would update you regarding recent price action.

First let me address the director selling shares. Whilst this is not the right look and unlucky coincides with index inclusion and share price underperformance, there is only a small window after the annual report has been published, a director can sell shares. This was well flagged internally as Tony needed funds for personal reasons.

Second is the hangover after the ASX 300 inclusion on 15th of September. Prior to this date we saw hedge funds buying Alpha ahead of this event, in anticipation/hope they would sell into the passive buying on the 15th at a profit. This strategy is called index rebalancing. And they execute this strategy across all index add and delete stocks, it’s a probability game, some work some don’t.

Why it doesn’t work and Alpha has been sold off aggressively over past few days is when the passive buying on the 15th is met with natural selling. There isn’t enough buy volume to match off the natural sell volume and the hedge funds trading alpha (index rebalancing strategy) volume. The hedge funds are not fundamental owners, it’s purely a trade for the event, they have to sell the next day regardless of price if they are left holding stock. This is what I believed has happened. Some of our mature holders have used the passive buy volume on the 15th for the asx 300 inclusion and sold into the liquidity leaving the hedge funds long alpha who then have to cut. The hedge funds selling Monday (cutting the trade) has caused panic and additional margin selling + director spooking things a perfect storm.

Fundamentals internally are strong and hope to have a positive update regarding the downstream sapphire business soon.

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Thanks Ken.
I'll hang my hat on that last line...
"Fundamentals internally are strong and hope to have a positive update regarding the downstream sapphire business soon"

A4N Price at posting: 91.0¢ Sentiment: Hold Disclosure: Held
3 Upvote

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(20min delay)
Last 83.0¢		Change 0.005(0.61%)		Mkt cap ! $941.7M

Open	High	Low	Value	Volume
83.0¢	84.3¢	82.0¢	$622.0K	749.6K

Buyers (Bids)

No.	Vol.	Price($)
1	84446	82.5¢

Sellers (Offers)

Price($)	Vol.	No.
83.0¢	44161	3

View Market Depth

No.	Vol.	Price($)
1	9541	0.820
3	37256	0.815
4	37906	0.810
2	8403	0.805
3	5718	0.800

Price($)	Vol.	No.
0.830	44161	3
0.835	9541	1
0.840	12256	2
0.845	27256	3
0.850	51957	3

Last trade - 16.10pm 16/08/2024 (20 minute delay)

A4N (ASX) Chart

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Ann: Change of Director's Interest Notice, page-21

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