I hold a few shares in several small "explorers" such as MLS & LAT, caught up in the Opes Prime / ANZ fiasco. Mine paid for in full - not leveraged.
Yesterday, I observed the unseemly "trashing" of the MLS share price, where instead of an orderly sell-off of parcels of shares spread over several days, the full 6.5 M shares were liqidated in fast order, depressing the market price, & creating a bargain for the buyers, with the price recovering as soon as the "liquidation" ceased.
Today, I watched the dump of LAT fairly closely - 6% of LAT were in the hands of the ANZ / their liquidation broker. (6% = 15 M shares?) To me it seemed that there were those in the know that it was LAT's turn this morning & the agreed starting price would be 3.2 cents, despite early sales at 4c.
So, this morning, in due time big buying appeared at 3.2c -well down on yesterday's already depressed price of 4.1c, & todays opening price of 4c.
Then in the early stage of the dump, 1M were bought & then sold again, in the twinkling of an eye, at 3.3c. So, I guess the price was to be 3.3c.
Immediately, multi millions went on the bid & were filled in rapidly.
Was this a "play" of one hand to another?
Then when it was all over, the price finished at .038/.047
Seems to me that the ANZ/its broker are doing the "dump" of one stock at a time, creating a bargain, rather than feed them out to the market in small parcels over a number of days, & providing an orderly market.
This is "fair trading"?
Col8
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Last
10.0¢ |
Change
-0.005(4.76%) |
Mkt cap ! $14.26M |
Open | High | Low | Value | Volume |
11.0¢ | 11.0¢ | 10.0¢ | $3.957K | 37.76K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 60435 | 10.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
11.0¢ | 37260 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 60435 | 0.100 |
1 | 6500 | 0.090 |
1 | 12207 | 0.081 |
1 | 37045 | 0.080 |
0 | 0 | 0.000 |
Price($) | Vol. | No. |
---|---|---|
0.110 | 37260 | 1 |
0.120 | 17582 | 1 |
0.125 | 3150 | 1 |
0.130 | 60058 | 5 |
0.135 | 50000 | 1 |
Last trade - 16.10pm 07/08/2024 (20 minute delay) ? |
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LAT (ASX) Chart |