It is pretty clear the seller on the dumps below 19.5 is shorting hard.
There big dumps are a calculated. Left hand to right. Less obvious previously but now looks like a response due to the CR. Likely pissed that LDA will not be distributing the 10s of millions of shares available for a CR to cover the short.
The low interest in buyers easily allows for this action so its a combination of reasons with out this added push could the sp hover around 30 possible but its not as its not supported.
What the reasons for the CR and who financed BRN for 22 million We do not know but I do now pending on failure as some put it here will be hard for them to get their capital back so they must have somenfaith to hold on yet and see.
Starting coverage on Shaw and Partners ., page-11
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Last
18.0¢ |
Change
-0.010(5.26%) |
Mkt cap ! $352.6M | |||
| Open | High | Low | Value | Volume |
| 18.5¢ | 19.0¢ | 18.0¢ | $1.287M | 7.036M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 62 | 1437090 | 18.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 18.5¢ | 524059 | 7 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| BRN (ASX) Chart |