SFX 8.08% 45.5¢ sheffield resources limited

My guess is that it's a hedge fund trader that is doing this for...

  1. 197 Posts.
    lightbulb Created with Sketch. 406
    My guess is that it's a hedge fund trader that is doing this for trading margins. The reason they'd prefer it low is that a 2c margin on stock trading in the 50's is twice the percentage gain than in stock trading at $1.

    also, having managed to tame the market and be able to keep it at cheap prices means the holding risk when they are in accumulation phase is much less than if the price was higher with further to fall.

    these guys also stand to make big money when the company's earnings are no longer in question, because after years of this intra week trading and fencing in the price, there will be no-one else that would understand the real technical analysis dynamics of the stock better than them, ie when the time is right they will go hard on the buy side, and accumulate a big position fast, knowing that it's been kept artificially low by none other than, themselves.

    once again, speculation, but not just stabs in the dark I feel.

    i often get ask why a group would bother with this 'small stuff', I estimate they are making on average $5k a week and have been doing it for years. And they will be in a strong position to cash in much bigger on their accumulated knowledge when the time is right. SFX would be just one stock of many that an operator and quant in a hedge fund would be assigned to monitor and transact in, so it doesn't cost the hedge fund much.

    let's see.

    Last edited by Franpower: 06/02/24
 
watchlist Created with Sketch. Add SFX (ASX) to my watchlist
(20min delay)
Last
45.5¢
Change
-0.040(8.08%)
Mkt cap ! $178.8M
Open High Low Value Volume
47.0¢ 47.0¢ 44.0¢ $500.4K 1.098M

Buyers (Bids)

No. Vol. Price($)
1 1200 45.0¢
 

Sellers (Offers)

Price($) Vol. No.
45.5¢ 19105 3
View Market Depth
Last trade - 16.10pm 29/05/2024 (20 minute delay) ?
Last
45.0¢
  Change
-0.040 ( 8.16 %)
Open High Low Volume
46.5¢ 47.0¢ 44.0¢ 471459
Last updated 15.49pm 29/05/2024 ?
SFX (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.