I could be wrong but my take on things is that the market makers in the US wont be selling the shares they may already hold except for good profit. At this early stage they will imo hang back until more good news in coming months.
The last listed bid in the US equated to about 37c per ASX share, but its great that no-one sold into that price. Volume was negligible so pretty meaningless in any event other than on a sentiment basis. The US is holding out for a higher price and thats great. Will the Australian holders be the ones to fold and sell cheaply? I hope not!
In the US they will possibly be trying to get a larger holding through the ASX and they will naturally love to buy into any weakness here. Just my opinions on the issue.
this mornings depth., page-9
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Last
35.0¢ |
Change
-0.005(1.41%) |
Mkt cap ! $508.4M | |||
| Open | High | Low | Value | Volume |
| 35.5¢ | 37.0¢ | 35.0¢ | $906.4K | 2.522M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 71513 | 35.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 36.0¢ | 113290 | 6 |
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| Last trade - 16.10pm 20/08/2024 (20 minute delay) ? |
| IMM (ASX) Chart |