I know your post is only in jest, but unfortunately ASIC would have definite issues with that behaviour. Despite algos manipulating our share price, such collusion as outlined above is illegal. Directors have fiduciary duties as well as requirements to act within the law and discussions to arrange a false bid to set a price would fall under a variety of laws, just off the top of my head, Cartel behaviour.
But I see your point about unsuccessful but genuine take over offers setting a new floor under a price.
Takeover offer, page-5
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Last
47.0¢ |
Change
-0.015(3.09%) |
Mkt cap ! $43.43M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.5¢ | 47.0¢ | $9.995K | 21.23K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 82233 | 47.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 48.0¢ | 50000 | 1 |
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| Last trade - 15.00pm 27/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |