zarzoore, imo you are quite right that there are a number of factors at play that result in the erratic nature of the sp. These are some I believe that currently apply:
1. There is greater interest on the Nasdaq that ought to result in upward momentum and has possibly been responsible for any upward moves on the ASX. I note that the Nasdaq closing price equates to 11cAUD and yet the ASX is trading in the 9's. Possible reasons for this at 2 below.
2(a) Possible overhang of 8c shares issued by Ord Minnett with short term buyers taking quick profits.
(b) Increase in number of shares short sold on ASX. 950,000 yesterday. Maybe they are short selling and applying for 8c shares from Ord Minnett to cover their sale. Nearly a 20% profit.
Its a shame that when the USA interest is ramping up, short term opportunistic profiteering on the ASX is dampening/stalling upward momentum.
Hopefully the impact of the 8c shares can be wiped out by the time of the presentation by Dr Goh in October.
cheers
zarzoore, imo you are quite right that there are a number of...
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Last
29.5¢ |
Change
-0.040(11.9%) |
Mkt cap ! $428.5M | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 33.0¢ | 28.0¢ | $7.278M | 23.75M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 53192 | 29.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 30.5¢ | 41048 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| IMM (ASX) Chart |