I think it is because of the opening auction. If you want to make sure you buy and hopefully at a lower price you kind of have to put a bid higher than the others - higher bid make sure your bid gets executed. Also, if you want to make sure you sell at a higher price before others, you have to put a lower price before the auction.
Algorithm determine what prices depending on buy sell orders available.
I may have got some of this terribly wrong. But, opening and closing auctions are different to but/sell others times.
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Last
1.3¢ |
Change
0.002(18.2%) |
Mkt cap ! $97.07M | |||
| Open | High | Low | Value | Volume |
| 1.2¢ | 1.4¢ | 1.1¢ | $625.7K | 50.56M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 5795292 | 1.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.3¢ | 3258567 | 9 |
View Market Depth
| Last trade - 16.10pm 27/06/2025 (20 minute delay) ? |
| IMU (ASX) Chart |