it really doesn't matter whether it is pushing the share price up or down.
The issue is that it is blatant price manipulation.
It is clearly computer based trading.
The ASX and ASIC allow that form of trading. B...ered if I know why?!
If one looks at the definition of market manipulation etc in the Corps Act, and in the ASX Listing Rules, this sort of trading would be classified as manipulation.
If there is a buyer whose intent is to buy say 99 shares at say 0.02c, and there is a seller of 100 shares at 2c, and the buyer starts buying 1 share at a time, then the only conclusion is that the buyer is trying to manipulate the trading. That's just my example.
These multiple trades just distort the market - which is illegal --- but nobody does anything about it.
I am certain that these sorts of trades have been investigated, but nothing ever comes of it.
Ann: Investor Presentation, page-48
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Mkt cap ! $8.216M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $4.025K | 2.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 6757888 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 33095361 | 22 |
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