Most people accept that this type of thing goes on on the ASX but who does it and is it legal? We've alll had shares that suddenly spike in price followed by a CR(see ANP recently) but who actually does the dirty deed? I presume the company itself doesn't do it as it would be apparent in the financials and they can't just buy their own shares without an agreed buyback. If they get a broker to do it how do they reimburse them and is it legal? You'd think that once the CR is announced then the SP would fall back and anybody who bought the share high would lose money(including the pumper). IBX traded 17 million shares a few days ago and another 33 million today. So who is "they" and how do they do it in full view on the ASX?
I am not a financial adviser. Do your own research.
