Unfortunately for retail investors, we have no united voice or an association with any clout. ASA who have no Kahunas IMO, apparently afford members the benefits of
championing your interests
benefit from ongoing advocacy in corporate governance and protection of retail shareholder rights.
As we know the market manipulation continues as it has done for many years so ASA is hardly giving it's members any benefits there.
If anyone happens to be a paying member of ASA, maybe you could give some feedback as to why there has been no action of any consequence.
In my mind the ASX and ASIC are complicit in the crime IMO, so no point in complaining to them.
So while this crime is allowed to continue, many junior companies will continue to suffer the same fate and retail shareholders will continue to suffer the frustration of watching a company with great potential languish in the ASX pit of manipulation. The usual suspects will keep posting the same garbage to create confusion and uncertainty and we watch as Australian wealth is transferred off shore, to the detriment of all Australians.
No doubt the FUDers, who I mostly have on ignore, will reply spruiking the same old tripe that has been doing the rounds since the latest downtrend started. Being a FUDer is part of the job skill set, we understand this.
Investment bank traders and any others who eke out a profit with this practise will continue and retail investors will continue to buy/sell providing the traders with the fodder to operate. We can all see the course of sales. Now for those that were in the market 20 years ago, remember the course of sales. No we didn't see the continual down tick low volume trades that we see now. Just pick any junior company operating in a tough market. PLS is definitely one of the favourites. Lithium in the pits, oversupply narrative, start up of new plant, ramp up issues (almost sorted now), enormous future potential and high daily turnover for manipulators to operate in. Heaven.
In the meantime LT retail shareholders continue to hold in the hope that the pressure cooker of demand hits before our patience, financial needs or diluted shareholding makes us capitulate. Another great Australian resource sold to off shore interests because capital is almost impossible to obtain.
It's no wonder that most Aussies just buy bank shares or retail funds and property. Those that dare to venture outside these boundaries risk the stomach churning ride that accompanies that decision. Yeh Yeh we all know the stop/loss thing and all that but some investments are about our country, our people and our future. That is something that gets lost in the financial pit.
Most of us cannot afford to fund our ideological beliefs but some of us give it a go in the hope that what we believe is good will rise from the ashes like the phoenix.
PLS Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
(20min delay)