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
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.648M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 3183330 | 0.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 2095077 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 3183330 | 0.009 |
7 | 2779466 | 0.008 |
8 | 5078480 | 0.007 |
8 | 6730000 | 0.006 |
5 | 2645080 | 0.005 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 2095077 | 5 |
0.012 | 1973905 | 6 |
0.013 | 1500000 | 1 |
0.014 | 965428 | 3 |
0.015 | 342768 | 3 |
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