Fair point @OTG,yet I can definitely see why this is bad for us shareholders (besides the legality). Here's what happens IMHO:
1. As soon as buyers' demand increases, sophisticated algos are out selling small parcels to match demand.
2. The share price remain flat.
3. Potential future buyers cannot see any short term upsides, so they decide to stay on the sidelines waiting for the next breakthrough.
4. Since no new buyers enter the market, there is no breakthrough and the seller cannot repeat step 1.
What's more, if the SP stalls for too long, then potential buyers lose interest in RAC and go invest somewhere else (our loss). Look what happened to the depth in the last months.
This is self-defeating to the seller themselves, not only because they eventually run out of buyers to repeat step 1, but also because RAC loses support from what would otherwise be long term investors.
Net result: a great loss for all RAC holders including for the seller.
IMHO
RAC - Charts & Price Action, page-6758
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Last
$1.58 |
Change
0.055(3.62%) |
Mkt cap ! $268.4M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.61 | $1.56 | $106.0K | 67.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 649 | $1.58 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.59 | 3000 | 1 |
View Market Depth
| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| RAC (ASX) Chart |