It does look like someone made some money off arbitrage between the asx and the tsx. But I am not talking conspiracies here.
The day on the tsx where the volume reached 50 million, one trade was made for 40 million shares
Basically it seems that some entity somehow took advantage of
1- the fact that exchanges in north america were closed for labour day (first weekend of sept.)
and 2- that while your asx tickers up in tenths of a cent, the tsx moves in half cents. At one the point a strong bid at .025 and a small offer at .03 on the tsx (which is just the largest of 5 different exchanges where the stock can be traded in Canada) seemed to mean that the stock would soon move up closer to the price in aussie money. Then the next day after a couple days of large volume on the asx, the bids and asks almost disappeared on the tsx.
The big question is where the stock came from. I did not see any accumulation from the public float previous to the movement up that could amount to 40 mil. On the marengo site, there are only 5 institutions listed that hold this much stock and we must exempt Sentient since it would be highly unethical for them to manipulate given their recent investment/relationship with the company.
This was a highly sophisticated series of trades, made by someone with access to both markets, involving a significant amount of cash. So who was it among the other four institutional holders?
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Last
75.0¢ |
Change
-0.010(1.32%) |
Mkt cap ! $86.17M |
Open | High | Low | Value | Volume |
74.0¢ | 75.0¢ | 72.0¢ | $173.6K | 235.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 80000 | 74.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
75.0¢ | 46968 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 80000 | 0.740 |
1 | 6770 | 0.735 |
2 | 51300 | 0.730 |
1 | 7000 | 0.725 |
2 | 40000 | 0.720 |
Price($) | Vol. | No. |
---|---|---|
0.750 | 46968 | 2 |
0.780 | 20000 | 1 |
0.790 | 8301 | 1 |
0.825 | 13766 | 1 |
0.840 | 3000 | 1 |
Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
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