I reckon there's a lot of institutional catching up that's driving the buying since the end of July.
I bet the institutions were counting on a flood of retail selling at the start of August as the mums and dads who got their ASM shares 'free' from Alkane naively took their profits as soon as the capital gains tax discount kicked in.
The chart below shows there wasn't an uptick in selling at all in early August. Retail has held on.
So now the institutions are jumping all over themselves to get the position size they need/want.
ASM Chart Thread, page-2232
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 (20min delay)
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Last
82.5¢ |
Change
0.030(3.77%) |
Mkt cap ! $149.4M | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 83.5¢ | 80.0¢ | $123.1K | 150.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 24905 | 82.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.5¢ | 1402 | 1 |
View Market Depth
| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| ASM (ASX) Chart |