The relevant question and topic is: Who is buying?
With 56 m shares changing hands you'd have to say instos primarily.
Who then is selling? This is a different argument as there is probably not the same amount of shares sold.
Enter the hedge fund industry who are likely to have borrowed millions of shares from instos for a fee and interest and sold them on market in the last two days.
Eventually they will have to buy them back at a lower price either when tanking is done or a hapless company has to do a CR. They then return them to the insto they borrowed from.
Insto holders make a profit on the fee and interest while still holding the shares, Hedgies take more risk but can make squillions. Retail holders get shafted as usual.
Wonderful system!
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Who is buying?, page-27
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Last
17.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $487.1M |
Open | High | Low | Value | Volume |
16.5¢ | 17.0¢ | 16.0¢ | $1.708M | 10.27M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
11 | 929388 | 16.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
17.0¢ | 1165570 | 9 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 860835 | 0.165 |
56 | 4466995 | 0.160 |
20 | 1016395 | 0.155 |
34 | 729563 | 0.150 |
9 | 551948 | 0.145 |
Price($) | Vol. | No. |
---|---|---|
0.170 | 1105570 | 8 |
0.175 | 1774180 | 13 |
0.180 | 942433 | 8 |
0.185 | 820010 | 17 |
0.190 | 1135367 | 15 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
STX (ASX) Chart |
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