The announcement spoke of each holder (except Fung) wanting to sell some (not all!) of their shares. Hardly unreasonable. It may be that the CEO was a seller at about $1 when the announcement was made but may not be now. He bought 200k on market at 84c in September. Hardly the actions of a man desperately trying to bail out. If he wanted to keep open the option on maybe taking profits on them at $1 then hardly surprising. Can't see how it justifies selling indiscriminately at 81c.
The way I see it there is a market distortion due to a single seller bailing out far quicker than is efficient. Probably down heavy again tomorrow but surely at 70c you are kidding.
Ann: Trading Window Update, page-23
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Last
70.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $67.49M | |||
| Open | High | Low | Value | Volume |
| 70.0¢ | 70.0¢ | 69.5¢ | $56.56K | 80.82K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 69.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 70.0¢ | 17002 | 1 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| SHM (ASX) Chart |