ASX speeding tickets: I was expecting one of these today for CDY, given that turnover of 40 mil is more than it's seen since the immediate post-announcement period early this month and, price was leaping from the intra-day low of 0.036 a couple of days ago to 0.046 and beyond today (eventually spiked at 0.05, retraced a little).
The point is, a speeding ticket almost invariably evokes a know-nuthn response from the company concerned, and this almost as invariably deflates the SP once the trading resumes after the brief mandatory pause.
So buying in when one imagines a speeding ticket to be imminent is a major risk from the DT perspective.
Does anyone know the algorithm by which the ASX watch-puppy issues a speedo? Why didn't CDY get one today?
And by what macabre logic I wonder, does trading suspend once the company concerned replies to a speedo? Surely once trading triggers an alert on the ASX, trading should pause until such time as the company responds?
