Maronan algo trades

19 of these tiny algo trades so far today.

when they are used to downtick the price it is always price manipulation.

when it is used to go to the upper price like it is today, it is either manipulation or scamming the Share Purchase Plan (SPP).

there is a scam and this is why I hate share purchase plans, where some entity with many many different registered accounts, but it is the same entity, will buy all these tiny amounts.

then a company announces a SPP. Whoever has done these 19 trades today now has 19 different accounts owing 3 shares of maronan metals.

I actually have confirmation from tom randall high up in the ASX that it is exactly what goes on. Yet he does nothing about it.

in a Share Purchase Plan it makes no difference whether youre a big holder or someone owning only 3 shares. Every account is completely entitled to the full amount (lets say $15000).

19x$150000= $285,000

then the company announces 'a successful share purchase plan'.

then on hot copper there is 10 times as much enthusiasm on that thread, everyone is saying its going to the moon. Everyone buys. Its that guy who just took up 19 SPP's and he also has 20 hot copper aliases. Its his job after all.

then these 19 accounts all belonging to the same entity all sell.

there are instos that play this scam and its their sole ASX strategy.

the share price falls back down even below what it was before the SPP

its hardly a sensible way to raise capital