IMO the closing auction today was pretty blatant manipulation.
At 4:09pm there was a buy order for 20k+ shares at $23.45 and the indicative closing price for the day was $23. Then as 4:10pm ticked over, I'm guessing, the algos hit the sell side with just enough shares at a low enough price to limit the day's gain to 5%.
It would be very interesting to know who that seller was and if they are also a shorter. I don't see why ASIC wouldn't be able to figure this out. If it was a shorter then to me that is blatant manipulation. If it wasn't then I'm very curious, usually sellers want to 'maximise' the price they get for their shares, even if you had 20k CUV shares to offload, why wouldn't you let the buyer push the price to $23 today (sell say half your position today and then half tomorrow assuming an open price similar to today's indicative close of $23).
Games are being played...
I'd be very interested to know what ASIC is doing wrt this.
IMO the closing auction today was pretty blatant manipulation.At...
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Last
$14.00 |
Change
0.040(0.29%) |
Mkt cap ! $701.0M | |||
| Open | High | Low | Value | Volume |
| $14.10 | $14.20 | $13.97 | $452.4K | 32.15K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 126 | $14.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.12 | 66 | 1 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| CUV (ASX) Chart |