The IMG deal was announced on the 27th where 108mil shares traded. Since then around 52mil shares have traded. The placement stock was supposed to be settled on the 27th but was pushed back to the 1st May for some reason. Ive checked the barrels and its still that one broker Velocity Trade selling all the stock as shown below. Remember that Bergen were using that broker to offload all their share before LNU took them out.
Im not sure if the stock sold on Wednesday into the news was placement stock as it hadnt settled yet. Could mean there is still a huge seller/s around capping the share price.
Otherwise its just sophs being given the green light to sell last Wednesday. Will need good news flow to clear all this overhang. Theres also the convertible note dont forget, that can convert into stock at 0.2c but havent seen any announcements showing any conversions.
The IMG deal was announced on the 27th where 108mil shares...
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Last
0.2¢ |
Change
0.000(0.00%) |
Mkt cap ! $11.09M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $2.194K | 1.096M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18123 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 112072058 | 31 |
View Market Depth
| Last trade - 15.08pm 03/05/2024 (20 minute delay) ? |
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0.2¢ |
Change
0.000 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 0.2¢ | 0.2¢ | 0.2¢ | 275001 | ||
| Last updated 15.08pm 03/05/2024 ? | |||||
| LNU (ASX) Chart |