a 3b is a disclosure form, detailing holding level, for entities that hold a major share of ASX companies. They are meant to provide disclosure and I believe designed to reduce manipulation but as they are submitted many days after the action of buying or selling takes place they can often have the opposite effect. For example, someone could sell 10% of Lynas, sending the share price down, declare so in a form 3b and then when the rest of the punters read this info and think, " They know something, I better sell!" The original seller buys back the cheap shares.
There is conjecture in this thread (and elsewhere) that this action has been taking place on a large scale. When you add to this the fact that other RE companies world wide are not being impacted by the same moves I would suggest they are on the money with their conjecture. An ASIC investigation would be appropriate.
LYC Price at posting:
$1.04 Sentiment: Buy Disclosure: Held
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