Snicket,
There has been very little shortselling, check it out here:
https://www.asxonline.com/intradoc-cgi/idcplg?IdcService=ASX_COLLECTION_DISPLAY&hasCollectionID=true&dCollectionID=68&SortField=dInDate&SortOrder=Desc
the price has been driven down by investors (probably institutional) betting that MNC will be removed from the S&P/ASX300 index. A rebalance is due to be announced in the first week of March and will be effective around March 15th
Given the reduction in market cap over the past 6 months and the rise in market cap of a vast number of companies over the same period, I see the removal of MNC as very likely.
The removal from the list is likely to force index tracking funds and other funds that only invest n ASX300 companies to sell. Thus some investors have sold in anticipation.
I put out some of mine in the market but was unsuccesful as not willing to take any price.
On the other hand, if I were to buy more I would wait until March as I believe some further drop is likely, but again everyone's circumstances are different and you should not take this as investment advice because it isn't.
Alejandro
----------------------
DYOR, this is not investment advice
BDR, HCH, MNC
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Last
0.9¢ |
Change
0.001(6.25%) |
Mkt cap ! $8.201M |
Open | High | Low | Value | Volume |
0.9¢ | 0.9¢ | 0.9¢ | $685 | 76.66K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
4 | 682972 | 0.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.9¢ | 1362208 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
4 | 682972 | 0.008 |
7 | 7517560 | 0.007 |
9 | 5580000 | 0.006 |
9 | 4341080 | 0.005 |
5 | 5878763 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 1362208 | 4 |
0.010 | 4181762 | 5 |
0.011 | 1459999 | 3 |
0.012 | 737500 | 2 |
0.013 | 83333 | 1 |
Last trade - 15.51pm 30/08/2024 (20 minute delay) ? |
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