What is +ve was the volumes today were enormous yet the price "held". 250M shares is about 25x the average.
When you do the numbers today with late last week and monday then obviously an institutional holder was selling (i.e. total retail shares ownership quoted at 20% - approx 180M shares.)
This means some other inst. was buying.
If 50% retail hold and 50% sell over a one month period that is 90M + 360M = 440M / 30 = 15M a day if you exclude institutions which i assume will be selling to the 4th Nov not to compete with retail.
My guess is that the price should recover into the low 20s within a month.
Cheers
significant move today?, page-2
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Last
$8.16 |
Change
-0.160(1.92%) |
Mkt cap ! $1.284B | |||
| Open | High | Low | Value | Volume |
| $8.32 | $8.37 | $8.16 | $3.570M | 435.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1944 | $8.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $8.17 | 459 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ELD (ASX) Chart |