If the takeover price for CTP is 40c then please tell me why the share price over the past half a dozen trading days, and after more than doubling in a short time, has settled at 10c when we know that Petroleum Nominees were buying up big ... also, (while they might be day traders or T+3 traders) note that there is a weight of sell orders between 10.5c to 13c ... fortuitous ? I don't think so ...
In this day and age, what with Algorithmic and bot trading, whether you like it or not, deep pockets can manipulate share prices ... or in fact hold tyhem range bound. If there is a takeover in the wings, you can bet your bottom dollar that the offer will be made with the weighted mean average price (WMAP) as the basis upon which the offer will be constructed ... and the VMAP so far is 10c ... Now do yuou really see anyone offering VMAP + 300% .... ??
As someone said ... in a takeover 'big money roots small money'
CTP Price at posting:
50.0¢ Sentiment: Hold Disclosure: Held
