I think holders forming an alliance of sorts to not sell is not how SP can stay up sustainably. The only way for SP to go up sustainably is for new money (whether from existing holders or new buyers) to come in.
An alliance among the holders to not sell would be a very fragile illusion indeed. And that's never been the way the sharemarket works.
Any new buyer coming in at 20c should have no fear that someone will be selling at 25c. They should just be happy if the SP does go to 25c.
Saying that, I think we saw around 60M shares exchange hands in the last week, at between 20c to 29c. Those 60M will now, hopefully, want to hold til SP is above the buy-in price before they sell.
This is all very normal market forces at the end. If it's not one Chinese seller, it's 40 individual sellers (what has nationality to do with it?) selling to profit take. At some point, some people will want to exit. It's up to the existence of buyers to support the SP. If there are no buyers, the selling will naturally stop. Or the SP will drop to "bargain" territory, all risks considered.
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Last
5.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $88.10M |
Open | High | Low | Value | Volume |
5.4¢ | 5.4¢ | 5.0¢ | $127.5K | 2.473M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 7999 | 5.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.4¢ | 482679 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 204788 | 0.050 |
2 | 212000 | 0.049 |
4 | 520000 | 0.048 |
1 | 250000 | 0.047 |
2 | 46000 | 0.046 |
Price($) | Vol. | No. |
---|---|---|
0.054 | 482679 | 1 |
0.055 | 55000 | 1 |
0.060 | 63000 | 2 |
0.061 | 58237 | 1 |
0.062 | 213000 | 1 |
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