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7.25%

6.4¢ magmatic resources limited

Looks like this gap is about to close.

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smulv

1,787 Posts.

521

06/03/24

12:53

Post #: 72771402
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Originally posted by smulv: ↑

Something else to consider, not sure if it's a broker strategy or not, but it has become unsellable for retail holders.
If I wanted to sell 100,000 shares, a mere few thousand dollars worth, to pay car rego or whatever, and wanted it done now, I would need to sell into the buy depth, I would need to price the order at 2.9c to find even that small amount of depth, as the last trade was done at 4.5c, a sell at 2.9c will get flagged as market manipulation and will be purged as it is 30 percent less than last traded price. The current situation has retail unable to sell, the spread will not allow you to sell into buy depth while the last trade is in line with the sell depth.

im wondering if the little buy up last week was to create that buy/ sell gap and create the above situation. The price was in freefall on very little volume, and now it isn't able to trade on little volume.

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Looks like this gap is about to close.

MAG Price at posting: 4.4¢ Sentiment: Hold Disclosure: Held
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(20min delay)
Last 6.4¢		Change -0.005(7.25%)		Mkt cap ! $26.69M

Open	High	Low	Value	Volume
6.5¢	6.5¢	6.4¢	$6.264K	96.52K

Buyers (Bids)

No.	Vol.	Price($)
1	35235	6.4¢

Sellers (Offers)

Price($)	Vol.	No.
7.3¢	100000	1

View Market Depth

No.	Vol.	Price($)
1	35235	0.064
1	97101	0.063
1	12615	0.062
2	54959	0.060
1	47204	0.057

Price($)	Vol.	No.
0.073	100000	1
0.080	5000	1
0.084	35000	1
0.085	159000	1
0.088	59000	1

Last trade - 15.41pm 22/07/2024 (20 minute delay)

MAG (ASX) Chart