Whilst the Optus deal is undeniably good news, a few hundred batteries does not justify a 4x increase in the SP.
From 6th Jan to 19th Jan trading increased from about 3 million day to about 20 million. A lot of those shares would have been bought by someone knowing an announcement was coming.
Once the announcement came, same someone sparked off a lot of excitement over not much, with a bit further judicious expenditure.
No doubt same someone has been selling heavily in the last couple days - probably a fair percentage of the 100million or so traded. Work out the profit! $millions.
Not hard for ASIC to join the dots surely! They should then ping said someone for market manipulation as well as insider trading.
Like that is actually going to happen though!
In due course, absent the big T getting involved, the SP will in due course settle back down to where it should have gotten to without manipulation, ie more than 2.8c and much less than 9.7c.
Whilst the Optus deal is undeniably good news, a few hundred...
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Last
10.5¢ |
Change
-0.005(4.55%) |
Mkt cap ! $27.74M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 11.5¢ | 10.5¢ | $3.086K | 27.77K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 134051 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 2134 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| RFX (ASX) Chart |