It seems there was a tennis match in the morning between 10-11 am. Volume of almost 2.9 million shares out of a total daily turnover of 3.3 million went through at around 2c in about 300 trades. At least one big seller kept selling into the 2c bid which nevertheless kept getting replenished.
It smelt like an organised transfer of shares between two consenting parties. Does anyone know if we had similar ping-pong yesterday? The volume today (3.3 million) was almost as high as the volume two days back when the market update was released and 3.5 million shares were traded. 3.3 million is approximately 2.7% of the total number of shares on issue.
Were it not for the big buyer(s), share price would have eased back. On the flip side, were it not for the big seller(s), share price would have jumped.
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