I agree with your manipulation theory. The buyers and sellers must have been the same entities as the volume of trade didn't trigger a change of substantial holder notice.
I went through this with Perenti recently where the price was aggressively sold down from $1.05 to 78c on no news. Real value is at least $1 but months later it is still low 90c range enabling manipulators to slowly accumulate at the artificially low price.
this one was more extreme as CNB is still an exploration company so fear is easier to manufacture.
Ann: High Grade Discovery 4m @ 7.0% Cu - Exploration Update, page-285
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Last
48.0¢ |
Change
-0.015(3.03%) |
Mkt cap ! $82.53M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 50.0¢ | 47.5¢ | $133.3K | 274.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 27216 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 4700 | 1 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
48.0¢ |
Change
-0.015 ( 4.00 %) |
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| Open | High | Low | Volume | ||
| 50.0¢ | 50.0¢ | 48.0¢ | 55896 | ||
| Last updated 15.58pm 14/06/2024 ? | |||||
| CNB (ASX) Chart |