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
60.0¢ |
Change
-0.005(0.83%) |
Mkt cap ! $119.7M |
Open | High | Low | Value | Volume |
60.0¢ | 61.0¢ | 59.0¢ | $58.79K | 98.57K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4988 | 59.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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60.0¢ | 500 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4988 | 0.595 |
3 | 6617 | 0.590 |
4 | 21877 | 0.585 |
2 | 5220 | 0.580 |
1 | 1172 | 0.570 |
Price($) | Vol. | No. |
---|---|---|
0.600 | 500 | 1 |
0.605 | 9628 | 1 |
0.610 | 8537 | 2 |
0.615 | 18761 | 2 |
0.620 | 28001 | 2 |
Last trade - 16.10pm 03/06/2024 (20 minute delay) ? |
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Last
59.8¢ |
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Change
-0.005 ( 0.42 %) |
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Open | High | Low | Volume | ||
59.5¢ | 60.5¢ | 59.0¢ | 27368 | ||
Last updated 15.46pm 03/06/2024 ? |
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ARL (ASX) Chart |