It's quite typical, in small caps particular. People 'sell the news' without really understanding what is in front of them. They probably bought in anticipation leading up to the TH and now have sold as there's an influx of buyers. When those sellers dry up we see the SP increase.
Look at KIS for example - great announcement on 2nd of Feb, but that day takes a hit 13c down to 12c. By 4th of Feb its 24.5c and still sitting in low 20s. KIS got a fair bit of coverage from media, but I expect this will get a LOT more - I mean Nifty alone would employ about 500 people directly? more? It's big news.
It's quite typical, in small caps particular. People 'sell the...
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Last
4.3¢ |
Change
-0.001(2.27%) |
Mkt cap ! $65.61M | |||
| Open | High | Low | Value | Volume |
| 4.4¢ | 4.4¢ | 4.3¢ | $45.37K | 1.053M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 635421 | 4.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.5¢ | 1061336 | 2 |
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| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| CYM (ASX) Chart |