Seems like a few brokers are taking advantage of this interim period, with its uncertainty and confusion, to play silly buggers with CXCDA shares. There are tiny orders popping in and out of the market depth, and the price has been pushed down from $20.61 to $19.01 on a volume of only about 15,000-odd shares.
This equates to $2.61 down to $1.90 in the pre-consolidation money. That's an 8.16% drop on yesterday's closing price, on a tiny volume.
Methinks that many people have not yet come to grips with the new values etc, and the bots are trying to nudge the price one way then the other. Looking at what is happening on the market depth, you can see that there is one lot trying to "suck" the price higher from the sell side, while the other lot are trying to "drag" the price lower from the buy side. Huge gaps in both sides of the depth, and an 80 cent gap across the top of the depth.
Bloody opportunists!
Meanwhile, the price of silver has blasted up through $US 15, so in theory, CXC should be shooting for the moon.....
CXC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
