Guys.. take screens and email ASX / ASIC.
https://www.asx.com.au/contact/customerFeedback.html#/feedback
The frequency of these trades just went next level as of August... most penny stocks being being farmed by HFT / Algobots and front-running entire sectors AKA ASX lithium!
RE: Who would sell at 10.5 -- probably the trader bringing the SP up from 9.5c the previous day to get a nice 10% profit (before tax -- assuming they aren't in Monaco or Guernsey!)
MY EMAIL complaint:
There has been a huge increase in sub $1 trades across many of the stocks i have invested in. See screen of one such stock.. this stock has today been taken down nearly 17% on a sub $1 trade.
I wonder if you consider this to be fair trading? I am of the opinion that when these trades are allowed to continue and to the degree they have since August, that many many investors will stop putting equity into the ASX as it becomes more and more obvious we have algo bots and high frequency traders gaming entire sectors and having there way with stocks pre and post trade.
I think given the recent increase in frequency of such trading activity, ASIC and ASX must be compelled to step in and protect investors.. manipulation is one word that is being heavily alluded to in investor circles and the chat recently is getting exceptionally loud. When it is continuous and ongoing (like it is) you can be sure its going to put a lot of people off such a platform. Before this trading was only now and again and on certain stocks, now it is rife and widespread.. a can of worms has been opened by allowing the camels nose under the tent.
I hope you will take my email, and no doubt many others into consideration and trust you will act on this before it snowballs into a total retail rebellion against this unfair market practice else the free market will surely act with there wallets and invest in a fairer more open market!.
