I reckon the 75c and 84c orders > 100,000 shares are both real and unreal at the same time. Just little games of buying and selling back to the gamers' own account A to account B, etc.
What's also amusing is that a total of approx. 28,000 shares were sold on opening at 67c. No widespread margin calls going on, so who was that stupid to sacrifice 7c (10%) of value just on the ASX opening transactions? If no one was that stupid, then it's just more games played by a small group who don't have the financial firepower to take on the massive volumes of PLS or LTR.
Sticking to my guestimate of 90% shares being tightly held, then the remaining < 20M shares available (if even that) might be worth the gamers' time and effort to give it a go because the illiquidity is compensated by the high price volatility. Making a trading profit of $1,000 in a day on ARL is not insurmountably difficult. Eg. trading 50,000 shares at a price arbitrage of 2c, or even 28,000 shares at an price arbitrage of 4c, will give a $1,000 profit.
But were those really armslength sales and purchases, though?
All the best to the gamers while the working days are counting down to only 3 left, including today.
By the way, did anyone notice that ARL kept within the indicated announcement timeline by reporting on 21 December 2023, being a few days before the lengthy holiday season break? There is a pattern of ARL keeping to its word, announcement-wise.
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Last
64.0¢ |
Change
0.010(1.59%) |
Mkt cap ! $127.7M |
Open | High | Low | Value | Volume |
64.0¢ | 66.0¢ | 62.5¢ | $72.52K | 113.8K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 63 | 63.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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66.0¢ | 4546 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 63 | 0.630 |
2 | 2492 | 0.625 |
2 | 7672 | 0.620 |
2 | 34420 | 0.615 |
2 | 18225 | 0.610 |
Price($) | Vol. | No. |
---|---|---|
0.660 | 4546 | 1 |
0.670 | 13349 | 2 |
0.685 | 5000 | 1 |
0.690 | 4000 | 2 |
0.695 | 2847 | 2 |
Last trade - 16.10pm 15/05/2024 (20 minute delay) ? |
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Last
63.5¢ |
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Change
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Open | High | Low | Volume | ||
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Last updated 15.14pm 15/05/2024 ? |
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