A few figures to throw things into perspective.
(Back of envelope so happy to be corrected.)
- Today’s exchange of IMU (a big day) shares represents .6% of total IMU shares. These shares traded for a total value $1.8 million
- ANZ (used that as quick comparison) routinely trades .156 of its total shares - these are shares worth at the minute $32.39 per share. Therefore the total value of the average daily trade of ANZ is $140 million
For those who care nothing about cancer and nothing about the other shareholders, $1.8 million is petty cash when put against the benefit that’s going to accrue to them as they continue to manipulate the market.
Although a large turnover today (I think about 2.5 times average volume?), this still only represents 0.6% of the total shares - hardly a sell off of the company.
As we know, market manipulators have their own algorithms telling them how much they can afford to spend to keep replacing sell lines and pushing the price down, compared with the value of the ultimate prize they will achieve.
But I certainly won’t be adding my shares to their algorithmic sale points - and although I feel guilty at being able to buy more shares at such a low point, I’ll keep on adding.
I was just going to write this. player with 100m is playing left right to grab panic sellers. what about other 8bilion.
(20min delay)