It's a good question. I had a quick look at the last 12 months...

It's a good question.

I had a quick look at the last 12 months Trading History and there has been ~20% drops in a single session but these occurred at higher levels. Open high 3s, Close at low 3s.

A few theories:
- a large holder wanting to exit at any price.
- the adage of 'stay away in May'.
- pre-EOFY selling for capital gain losses.
- insider not liking what they see next quarter.
- bots / brokers.

Trading volumes sub 3c has been low, so any pickups here could be good for those with some gumption.

I've just noticed a 2.8c trade (77,883) went through with the same order reappearing immediately after.