its not the frenzied buyers, its that stroke of genius BB. Its artificially propped up the price (on low liquidity) since the heavy nose bleed started. with only ~181m SOI - falling with every BB (about 50k a day!), theres very little liquidity.....theyve used that to their advantage well...
risky shorting (although in theory a no brainer), but plenty have ridden the rodeo (buy during the dump on FUM announcement day, wait for the SP to slowly grind on BB - rinse repeat). works a charm.
Overall trend is south, terminal at maybe "asset backed" ~$900m mkt cap ($5 p/s)? $300m buffer right now that will move with FUM. Heaven help what the next two FUM releases will reveal.....
Ann: Funds Under Management - October 2023, page-8
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Last
$8.48 |
Change
0.060(0.71%) |
Mkt cap ! $1.532B | |||
| Open | High | Low | Value | Volume |
| $8.42 | $8.50 | $8.41 | $2.213M | 261.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2525 | $8.47 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.48 | 2185 | 1 |
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| Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
| MFG (ASX) Chart |