This deal reeks like there is a vindictive element to it. Looking at the trades on Commsec there was a consistent 500k on the sell being loaded everytime it was cleared. Why would you trade out for 100-200% gain when you could leak out slowly and get over 20cts?
Last couple of Cannacord Biotech trades I got in were v good - Next Science and AT1. I recall ACL had a similar iceberg seller who drive the price down until there was a massive xing to take out the seller and it rallied thereafter back above the $4 IPO level.
Outside of the 40m on the IPO there are only around 45m shares that are not locked up - so hopefully there is some a deal being done to take out the overhang so path is cleared for a re-rate. I'll be picking up some more tomorrow as this looks like a good trade, given its a technical overhang and not lousy fundamentals.
This deal reeks like there is a vindictive element to it....
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Last
32.5¢ |
Change
0.005(1.56%) |
Mkt cap ! $69.16M | |||
| Open | High | Low | Value | Volume |
| 32.5¢ | 33.5¢ | 32.5¢ | $38.96K | 119.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 59198 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.0¢ | 21129 | 1 |
View Market Depth
| Last trade - 15.12pm 26/04/2024 (20 minute delay) ? |
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Last
32.0¢ |
Change
0.005 ( 3.03 %) |
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| Open | High | Low | Volume | ||
| 32.5¢ | 33.0¢ | 32.0¢ | 68202 | ||
| Last updated 15.55pm 26/04/2024 ? | |||||
| BIO (ASX) Chart |