Less than 700k volume yesterday, if the algorithm is anything like the rules/guidelines I recall from WHC: as well as targetting ~10% of daily volume (as a soft maximum) it'll also be doing something like only bidding via matching the buy orders of other market participants (i.e. if someone offers to buy 50k at $0.33, MLX algo can match 1:1 alongside it for another 50k at $0.33). This means you can sometimes see dips on extremely low volume followed by increases on relatively higher volume and it ends up even harder for the buyback to run. AFAIK no chomping directly into the visible sell offers ever.
Don't know how much of that is standard enough that we can expect the MLX bb to be running under the same rules.
2.5M volume today and at a decreasing price so I'd expect we'll see a lot of shares bought in a buyback notification tomorrow.
MLX Price at posting:
33.5¢ Sentiment: Buy Disclosure: Held
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