The past few days I've noticed last minute sell-offs. This used to happen all the time with MX1. In the last 15 mins of trade, someone or thing does a lowball sell to drop the price for the day.
The only reason I can think to do this would be if you wanted to buy in, but before you do, you try to drive the price down. By dropping the closing price, it makes the whole day look low, which impacts sentiment and daily reports.
Of course market manipulation is illegal, and ASIC are all over this, so it won't happen for long.
Last minute sell-offs back again
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 (20min delay)
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Last
9.0¢ |
Change
-0.004(4.26%) |
Mkt cap ! $50.38M | |||
| Open | High | Low | Value | Volume |
| 9.3¢ | 9.3¢ | 9.0¢ | $45.16K | 500.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 832265 | 9.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 9.4¢ | 20910 | 1 |
View Market Depth
| Last trade - 15.29pm 02/05/2024 (20 minute delay) ? |
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Last
9.0¢ |
Change
-0.004 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 9.1¢ | 9.1¢ | 9.0¢ | 74724 | ||
| Last updated 15.29pm 02/05/2024 ? | |||||
| MX1 (ASX) Chart |