If a stockholder who has 23% of the total shares outstanding starts to sell, then it could create waves of panic:
1. Other shareholders become concerned that he may continue to sell and continuously apply downward pressure on the stock price
2. As a non-director, he would be free to short the stock. He could legally sell down large volumes whilst buying up short positions on the other side. and profiteering twice.
3. Ben selling (as a former insider) might make others feel that he believes the stock price is overvalued and will make others follow suit.
IMHO GLTA DYOR
If a stockholder who has 23% of the total shares outstanding...
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Last
12.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $71.98M | |||
| Open | High | Low | Value | Volume |
| 12.5¢ | 12.5¢ | 11.5¢ | $25.97K | 218.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 47635 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.0¢ | 127896 | 2 |
View Market Depth
| Last trade - 15.36pm 03/05/2024 (20 minute delay) ? |
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Last
11.0¢ |
Change
0.000 ( 12.0 %) |
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| Open | High | Low | Volume | ||
| 12.5¢ | 12.5¢ | 11.0¢ | 55172 | ||
| Last updated 11.22am 03/05/2024 ? | |||||
| VIT (ASX) Chart |