Lambda that is unfortunate.
On balance it would be an algorithim.
FYI the main reasons could be
SO that overall trade for the day goes through at the vwap (IMO this eg this trade is unlikely to be the reason)
By hitting the bid with a new low it could trigger another algo to sell.
By hitting a new low it could trigger a stop loss(IMO this looks to be the most likely)
While I know how much you dislike this type of trading, there are two things I would note.
1) Testing a new price level in such a fashion is by no means new, its been going on for longer than anyone here has been alive. The speed has increased with technology and the frequency that it occurs is greater but same same.
2) the above really only moves share price a tic in either direction in the short term only. It is typically used by traders that are playing the spread for a cent or two. I would love to hear how this effects a medium or long term trend or outways seriuos volume.
In summary no matter what the bots do to play a 1c spread if there was seriuos value or money wanting in the price would be moving up, it is short term noise. 738k shares went through at match at $.30 how did that trade for 1 share effect the decision by holders of 738k shares.
A hint, the short answer is it didn't.
Lambda that is unfortunate.On balance it would be an...
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Last
$6.30 |
Change
0.000(0.00%) |
Mkt cap ! $5.888B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | $6.35 | $6.29 | $88.42K | 13.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11146 | $6.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.79 | 8947 | 1 |
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| Last trade - 09.41am 17/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |
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