This is how I see the state of play:
This SP has been tightly controlled since July last year between .45-.5c easy to do because of the lack of retail holders.
I think this is being done because they are waiting for a large transformational transaction possibly doubling the company sixe and putting it into fundies buy specs ie. $200m+ market cap but at a reasonable price.
The current dominant instos shareholders don't want to overpay for any potential share issue for a big play so SP is 'managed' for a period of time.
When there are a lot of retail holders in a stock they do the opposite, bid up the SP on hot air and then issue shares at a 'discount' to the sucker retail holders.
Time will tell if I am correct but currently there are off the fence buyers and a few lined up sellers that may or may not be fair dinkum.
This is how I see the state of play:This SP has been tightly...
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Last
7.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $13.62M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7172 | 7.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.8¢ | 820 | 1 |
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| Last trade - 16.12pm 23/08/2024 (20 minute delay) ? |
| PPG (ASX) Chart |
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