In the short term, with all these funds taking a position, that would suggests that the shares bought are held out of the market at least for the time being which creates a shortage of shares to be traded which in turn puts more pressure on the price increasing.
Looking down the track dumping their holdings on market will collapse the price (not many buyers to absorb the amount) and makes it counter productive for their bottom line.
Being an emerging industry (green potential) taking a long position makes more sense.
ASM Chart Thread, page-2578
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Last
83.5¢ |
Change
0.040(5.03%) |
Mkt cap ! $148.5M | |||
| Open | High | Low | Value | Volume |
| 81.5¢ | 83.5¢ | 80.0¢ | $101.5K | 124.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 9572 | 82.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 83.5¢ | 10220 | 13 |
View Market Depth
| Last trade - 15.07pm 11/07/2024 (20 minute delay) ? |
| ASM (ASX) Chart |