Exactly.... was always a game the small guy was going to lose.
- institutional traders decided pump up the stock to get it into the ASX 300/200 index's....
- drove the price all the way up to $9.
- Index funds were forced to buy,
- traders sold for a massive profit,
- then doubled down and shorted all the way back down to $2.
- Then closing out the short positions when the funds had to sell.
- Index funds holders lose.. traders win twice.
- 24 months later the share price is back to where it started,
At least Weebit profited nicely by doing a cap raise at $5!!And the company is in a better position, with a foundry signed and multiple customers close to signing.
Real question is who will the traders target next
Running discussion on SP, page-8762
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Last
$2.05 |
Change
-0.250(10.9%) |
Mkt cap ! $398.6M | |||
| Open | High | Low | Value | Volume |
| $2.30 | $2.30 | $2.05 | $1.856M | 870.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 36001 | $2.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.06 | 10075 | 21 |
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| Last trade - 15.58pm 02/09/2024 (20 minute delay) ? |
| WBT (ASX) Chart |