Sorry Chuss, that is not correct. The absolute best outcome for Magna is for the stock to go through the roof.
Their model is to sell the 15% of total turnover each day.
To my knowledge, they have never purchased any shares.
It is a confusing model as it puts constant downward pressure on the share price.
If price is rising strongly, 85% trades will be rising buy trades. However 15% will be like a handbrake as sells.
Their first conversion was 5.2 cents second third and forth were more like 4.0 to 4.2.
So at current price, every sale is a loss!!
Why do they do it?
AVQ they converted at 11 cents an then 17 cents. I suspect they are no longer on that register and price is down to 11 cents after rising to about 22 cents.
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Last
8.8¢ |
Change
0.001(1.15%) |
Mkt cap ! $94.94M |
Open | High | Low | Value | Volume |
8.6¢ | 8.8¢ | 8.0¢ | $97.39K | 1.150M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2789 | 8.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.9¢ | 19050 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2789 | 0.085 |
1 | 23971 | 0.083 |
1 | 12500 | 0.080 |
1 | 50000 | 0.077 |
1 | 100000 | 0.076 |
Price($) | Vol. | No. |
---|---|---|
0.089 | 19050 | 2 |
0.092 | 160877 | 2 |
0.093 | 534926 | 2 |
0.095 | 1085 | 1 |
0.097 | 73263 | 1 |
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