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3.45%

3.0¢ spacetalk ltd

That's 100,000 traded yesterday and today so far. Even if my...

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chuk

14,121 Posts.

4079

30/11/18

13:58

Post #: 36705297
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Originally posted by chuk ↑

This is just a wild hunch but I am wondering if;
Gleneagle or their clients that were given notice of the companies intention to draw down on the convertible notes decided to sell part of their holdings on market over the last few days knowing they now have the option to convert those notes back into shares by paying the conversion price. If they were to do this for the full amount, then selling 100,000-110,000 shares (between $5 and $4.50) would cover it. That could explain yesterday's selling on a positive day for markets. Yesterday alone traded 50,000 and this morning has already traded 21,000 so if my hunch is right then the selling may be over or very close to over already.
Again, if my hunch is correct, this should bounce back up very quickly either today or the next couple of days depending on volumes traded to clear the last few of these sellers (if any remain).

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That's 100,000 traded yesterday and today so far. Even if my hunch is right, there will have been some other sellers as well but we should be close now. See which way this goes after another maybe 20,000 are traded. If I'm right it should be up and up fairly quickly with a lack of fresh sellers.

MWR Price at posting: $4.28 Sentiment: Buy Disclosure: Held
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(20min delay)
Last 3.0¢		Change 0.001(3.45%)		Mkt cap ! $13.83M

Open	High	Low	Value	Volume
3.0¢	3.0¢	3.0¢	$5.604K	186.8K

Buyers (Bids)

No.	Vol.	Price($)
2	236666	2.7¢

Sellers (Offers)

Price($)	Vol.	No.
3.0¢	6929	1

View Market Depth

No.	Vol.	Price($)
1	100000	0.028
2	236666	0.027
1	384615	0.026
1	380000	0.025
1	250000	0.024

Price($)	Vol.	No.
0.030	6929	1
0.031	30000	1
0.034	81539	1
0.035	156060	2
0.036	213291	1

Last trade - 13.32pm 10/09/2024 (20 minute delay)

SPA (ASX) Chart