As I correctly predicted https://hotcopper.com.au/threads/i-sold-out-of-appen-for-305c-for-a-tax-loss.7819411/page-2, friday was insider trading by the shorters. Sudden CEO departure usually elicits a knee jerk negative reaction, the replacement is not an outsider, he was COO at appen so it didn't look positive and the shorters had a knee jerk.
While this is not another shocker "trading update" and hopefully there won't be follow through selling, it does yet again show these shorters have company personnel on their payroll, and retail traders can't win against them.
One should not "buy the dip" on appen. If there's going to be a t/o, or a positive trading update, appen will go up strongly for consecutive days, these shorters live and breath APX. In other words, if one is interested in investing/trading appen, it's better to buy strength and sell weakness, instead of buying the weak dip like some traders here have done and then got bish slapped with the usual shocker trading update gap down.
As I correctly predicted...
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Last
$1.02 |
Change
0.015(1.50%) |
Mkt cap ! $226.3M | |||
| Open | High | Low | Value | Volume |
| 97.5¢ | $1.09 | 96.5¢ | $17.20M | 16.66M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2971 | $1.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.02 | 18189 | 2 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| APX (ASX) Chart |