AVZ (ASX) Ann: Trading Halt

Originally posted by Freehold ↑

Almost every stock Ive ever held has multiple people complaining about manipulation and/or bots etc Usually only by novice/inexperienced traders. Some regularly contact ASIC to no avail. You need to understand that ASIC is a massively understaffed and underfunded organisation and is generally known as a toothless tiger because of this, amongst other reasons. So don't waste your time contacting them as I'm sure ironically your email it will get forwarded to auto response bot saying thanks for you inquiry we will look into it etc etc Then nothing further happens. It not like ASIC is the umpire of a single soccer match and they blow the whistle and ask for a video replay every time a player calls foul ... more like there is 1 umpire and more than 2000 simultaneous games (as approx 2000 stocks on market) all going on at the same time with 100's of complaining players. They can't possible deal with it. They prioritise to handle/hunt only the headline grabbing whales and are not interested or can't possible deal with 1000's of minnow claims from retailers IMHO

When you trade stocks you need to understand that it is very much like the old wild west movies ... there are many outlaws, cattle rustlers, claim jumpers, Indians, snakes, bears, wolves and cougars ETC roaming around (and some stand up good folk also) that lie between you and your investment/trading nirvana. Chances you of you get there without being violated in some way are thin. ASX has never been a level playing field especially to the lowest of the low the retail trader.

Sad but true unfortunately ... All is IMHO only

So no not a halt to answer queries about bots or manipulation... The halt is in response to an unanswered ASX Query. Price movement has been negligible so not a new price query ... Its likely that the ASX are not entirely happy with the response from AVZ on the "ML tweetgate saga" from last week IMHO.

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If that is true, it is bit of a surprise as ASX would not have allowed the trading to resume if they were not happy with the response. May be somebody reexamined the tweets and found something which was not accounted for in the reply and went to ASX again...