There is only really 900k units on the buy at close to market price vs 5 million sell.
When it breaks below 2 cents massive selling should be triggered and it should settle around 1 cent mark.
I would expect a share like this to be trading around 8 cents with 90 million shares on issue.
The problem is too manny shares on issue which makes it volitle and very liquid. There needs to be a balance.
I think the director is buying shares on market so he holds over 20% so when they do 1 for 10 or something like that he can maintain his control.
Quite often companies like this reduce shares on issue then re dilute to raise capital which results in dimished holdings.
There is only really 900k units on the buy at close to market...
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Last
11.5¢ |
Change
-0.005(4.17%) |
Mkt cap ! $61.38M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.0¢ | 11.5¢ | $103.6K | 879.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 118633 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 273953 | 2 |
View Market Depth
| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| AQC (ASX) Chart |