Hi Pleb,
Couldn't agree more mate. I have never thought this was "retail selling" that got the sp down in the low 20's, and I don't think we're seeing institutional 'trading' here per se...more like risk mitigation perhaps...this is still a spec stock, albeit that is about to change!
The top nine accts in the top 20 are all Nominees accts and hold >600m shares, so it's quite possible that say some of HSBC's nominees (among others) are selling (and buying), which means HSBC would be doing the trades on their clients behalf, and they certainly have the means to create the sort of trading pattern we are seeing.
If it is just risk mitigation, or something along those lines, then I'd expect to see a rapid re-rating in the sp once first oil is ann. If there are other reasons, the sp climb may be somewhat subdued until re-weighting is achieved.
If anybody has ever read T4P's comments re "fishing spots", you may have some idea of the sort of games that can be played.
The top 20 list for the Sept Q (if published) should tell a story.
Any and all views welcome!
Agree, the mkt will EVENTUALLY look after the sp.
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Last
87.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $198.4M |
Open | High | Low | Value | Volume |
85.5¢ | 87.5¢ | 85.5¢ | $47.32K | 55.17K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10179 | 84.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
88.0¢ | 2000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10179 | 0.840 |
1 | 605 | 0.830 |
1 | 12269 | 0.815 |
1 | 2000 | 0.810 |
1 | 7700 | 0.805 |
Price($) | Vol. | No. |
---|---|---|
0.880 | 2000 | 1 |
0.900 | 15000 | 1 |
0.950 | 6000 | 1 |
0.970 | 10000 | 1 |
0.990 | 5000 | 1 |
Last trade - 15.43pm 09/10/2024 (20 minute delay) ? |
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