Probably a bad source, the market loves a rumour or a self confessed person who is "in the know."
Pretty obvious to me where the extra liquidity in the ADRs is coming from, market makers are taking up the shortfall and moving over to the US. Maybe they were holding off in spruiking it to clients until the were able to access the shares at a discount! It's arbitrage as I believe that BONY who issues the ADR will allow the MMs to be short or long with them and then deliver the shares at a later date!
Great that the liquidity is there but not necessarily fare they are getting 20-25% profit to do what they've obligated themselves to do...that's business.
All is good!
Probably a bad source, the market loves a rumour or a self...
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Last
31.0¢ |
Change
-0.005(1.59%) |
Mkt cap ! $450.9M | |||
| Open | High | Low | Value | Volume |
| 31.5¢ | 31.8¢ | 31.0¢ | $897.5K | 2.872M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 79201 | 31.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 31.5¢ | 138883 | 3 |
View Market Depth
| Last trade - 16.10pm 08/10/2024 (20 minute delay) ? |
| IMM (ASX) Chart |