A single buy order went in and through at the 4pmclosing auction...

First 11 Last

Share
Profile

Follow
Biggsy 07

1,125 Posts.

326

15/03/21

16:25

Post #: 51778812
Share

Originally posted by SPF2020: ↑

@Biggsy 07 @modelcitizen @reg
Yep 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.

Expand

A single buy order went in and through at the 4pm
closing auction for 760 000 shares at 16 cents.....
That’s some serious coin at $120k+ buy order in
one hit. Someone’s seeing value at 16 cents......
Perhaps some opportunistic accumulation in anticipation
of improving results as the 3rd Qtr draws towards it’s
close....

EVS Price at posting: 16.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply