I do wonder at the motives of a poster who decides to post a downramp, without any analysis, a couple of minutes before market opens.
In most cases I take the approach of 'follow the money'. There are no shorts on MAK at the moment, so there are a couple of reasons someone might want the price lower
- Minemakers are competing for finance with Legend
- A buyer wants a cheap price and knows that some option holders can potentially handle a 31c s/p to profit on exercise.
The value of outstanding options exercisable is worth maximum A$3.6M to the co, which is considerable but not make or break as they are well financed for immediate operations.
Note the behaviour of Incitec, slightly lower than the $2.50 on a rights issue that is key to their survival. MAK is in a far better financial position than this.
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Last
0.5¢ |
Change
-0.001(16.7%) |
Mkt cap ! $11.74M |
Open | High | Low | Value | Volume |
0.6¢ | 0.6¢ | 0.5¢ | $2.2K | 400K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 2078557 | 0.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.6¢ | 6398458 | 11 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 2078557 | 0.005 |
10 | 5236535 | 0.004 |
12 | 7273337 | 0.003 |
7 | 5175000 | 0.002 |
4 | 7399950 | 0.001 |
Price($) | Vol. | No. |
---|---|---|
0.006 | 6398458 | 11 |
0.007 | 6437807 | 10 |
0.008 | 6588125 | 8 |
0.009 | 2140900 | 4 |
0.010 | 1321252 | 4 |
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