We see this happening a bit when when there seems to be no new announcements from the company.
I'm definitely no expert on this but I think the most likely explanation is that there a few holders out there that find themselves in a situation they need to sell, have identified better opportunities or are happy to take a 20% gain on the 5.3c SPP.
With 1.9 billion shares on the register, the selling of a few parcels in the millions isn't a huge proportion.
HGO has strong fundamentals and I'd rather backbeat on Freepoint's mid to long term view rather than short interval market fluctuations based off a few sellers!!
HGO - Chart, page-36
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 (20min delay)
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Last
6.8¢ |
Change
-0.004(5.56%) |
Mkt cap ! $142.4M | |||
| Open | High | Low | Value | Volume |
| 7.1¢ | 7.2¢ | 6.8¢ | $456.2K | 6.615M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 251625 | 6.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 7.0¢ | 268521 | 4 |
View Market Depth
| Last trade - 16.10pm 14/06/2024 (20 minute delay) ? |
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Last
6.9¢ |
Change
-0.004 ( 4.17 %) |
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| Open | High | Low | Volume | ||
| 7.1¢ | 7.1¢ | 6.8¢ | 2370792 | ||
| Last updated 15.57pm 14/06/2024 ? | |||||
| HGO (ASX) Chart |