Several possibilities. I don't claim to know but the possibility of sumitomo accumulating is low IMO.
Primary assumptions are that the market doubts Sumi bid is genuine. Holders are saturated. Low liquidity means someone is able to manipulate to accumulate but not sumitomo. For the SoA reason I already mentioned and has been discussed here several times.
Flag / pennant forming..?, page-7
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 (20min delay)
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Last
21.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $37.91M | |||
| Open | High | Low | Value | Volume |
| 23.0¢ | 23.0¢ | 21.0¢ | $24.71K | 115.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 33964 | 21.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.0¢ | 2000 | 1 |
View Market Depth
| Last trade - 15.41pm 09/08/2024 (20 minute delay) ? |
| CYP (ASX) Chart |