@Biggsy 07@modelcitizen@regYep it was an open invite anyone could have attended and it was oversold on a basic supply and demand scenario
e.g. a large holder that we may hear about on Monday was exiting/downsizing their holdings and they had no doubt spent weeks negotiating that cross trade for 30mil+ shares that happened, is also probably related to the 6mil shares the following day (yesterday).
I would have done the same thing, new large holder negotiated strong purchase price (circa 12.5c) to wear some of their risk/exposure and outgoing large holder having nothing to lose gobbled up anything over that price from the retailers creating loads of downward pressure.
Don't get me wrong I'm never happy when I get my timing so off as I topped up at 16c too, but you cant really know there's going to be that kind transfer at a given moment.
There is a reason why brokers/institutions and ASX all want to see reporting on holders over 5% and also strong levels of diversification in the holder pool to avoid that exact scenario of a market being to easily influenced by a single player.
(20min delay)