@georgia14 and @lifes4livin I understand your frustration but it happens all day everyday across the ASX. Nothing Directors can do except keep the market fully informed on company activities, so market forces drive the share price. The impact of these trades is however more pronounced on very lightly traded stocks like FMS. It was obvious to me that someone was pushing the price up by buying and selling in what looked like a created market (try proving it), but given they looked (to me) like the only real buyer of substance, i could not work out what the end game was. If you really want to buy, surely you try and get what you want as cheaply as possible. The only time you pay overs is if you think something special is going to happen "imminently".
Their strategy could be any number of possibilities. Where they pushing it up to get the punters interested, so they could sell at a profit ? Did not look like it and if so they have failed miserably. I think they may have been testing to see at what point shareholders may sell - limited response received, so they have their answer and have retreated. As for the 1 x share trades, only one went through on the 9th March. It happened 3 times today though. Looks like we are going lower.
At what price will a buyer stand up and stop the rot ?
FMS Price at posting:
$1.40 Sentiment: None Disclosure: Held
