I don’t have any brokerage experience but this is my theory.
It’s no secret that CHN were going to be included in the ASX 300 (The MC has been well into the top 200 for months)
Many were aware that larger institutions would be buying in after market today to meet their portfolio requirements.
I believe the smaller brokers/SIs were off loading the shares they accumulated for this purpose (at a lower price over weeks/months) to the institutions at a decent profit, but the institutions (who are anticipating this happening) loaded up the sell side to reduce the price they had to pay, which resulted in such a large amount of shares on both the buy and sell side being traded after market.
I’m happy to hear others input into what happened as I suspect this was just one of many possibilities that actually played out today.
Other stuff, page-35
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Last
$1.26 |
Change
0.105(9.13%) |
Mkt cap ! $488.2M | |||
| Open | High | Low | Value | Volume |
| $1.21 | $1.28 | $1.18 | $6.755M | 5.487M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 19991 | $1.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.28 | 6335 | 2 |
View Market Depth
| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| CHN (ASX) Chart |