It is just a BOT (robot) accumulating shares. They have been programmed to take shares at a particular price point, or after a set of conditions. It is an institution or a soph taking a position. This can go on for weeks and weeks.
How come they can buy 1 share? These institutions are buying millions and millions of dollars of shares and so they may pay an annual brokerage to a brokerage company, which means they don't pay brokerage every time they buy one share.
This allows them to setup automatic trading algorithms that allow for accumulation, depending on a whole bunch of variables that they want for their fund or client.
Why are they doing this?
People like to read into this, and say Ohhh a massive fund is taking a position, look out we will rise! Or someone is trying to keep the price down. Because sometimes at the end of a trading day a single share or two, can knock the price down (depending on volume etc).
The truth is... who knows why someone is taking a position? I have seen this activity on some of my shares that have eventually gone into administration, and been terrible, and I have seen on others that have rocketed.
In and of itself - it means little, but yes it is a probably a bot accumulating for someone.
DYOR and all that.
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Last
28.5¢ |
Change
-0.005(1.72%) |
Mkt cap ! $441.0M |
Open | High | Low | Value | Volume |
29.0¢ | 29.0¢ | 28.0¢ | $418.7K | 1.473M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
19 | 659206 | 28.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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28.5¢ | 6703 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 659206 | 0.280 |
22 | 1552234 | 0.275 |
31 | 994664 | 0.270 |
12 | 475263 | 0.265 |
19 | 622770 | 0.260 |
Price($) | Vol. | No. |
---|---|---|
0.285 | 6703 | 2 |
0.290 | 241258 | 7 |
0.295 | 245560 | 8 |
0.300 | 595529 | 15 |
0.305 | 273764 | 8 |
Last trade - 12.58pm 30/05/2024 (20 minute delay) ? |
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Last
28.5¢ |
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Change
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Open | High | Low | Volume | ||
29.0¢ | 29.0¢ | 28.0¢ | 952256 | ||
Last updated 13.17pm 30/05/2024 ? |
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