There's always going to be buyers, no matter how bad a company is. Look at LKE. That thing is the biggest turd around, yet there are still suckers buying it. The fact that a share price is going down means there's less ammo from the buyers than sellers.
My argument is that you're focusing on the buyers ("x million shares have been bought this morning") as if those buying the stock are somehow superior and have better knowledge to those on the opposite side of the transaction selling. You need to look at things more objectively rather than through a biased lens. Why are people selling? Holders love to use flippant remarks like "panic merchants", etc. Those remarks were used when the share price was much higher and turned out to be completely inaccurate.
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Last
$2.86 |
Change
-0.200(6.54%) |
Mkt cap ! $8.608B |
Open | High | Low | Value | Volume |
$2.95 | $2.96 | $2.85 | $61.44M | 21.18M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
31 | 163532 | $2.86 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.87 | 44591 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 163532 | 2.860 |
77 | 608023 | 2.850 |
22 | 486259 | 2.840 |
15 | 178177 | 2.830 |
19 | 283694 | 2.820 |
Price($) | Vol. | No. |
---|---|---|
2.870 | 44591 | 3 |
2.880 | 32543 | 3 |
2.890 | 129200 | 6 |
2.900 | 123804 | 5 |
2.910 | 241116 | 12 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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PLS (ASX) Chart |